2023.02.20
Financial Authorities Plan to Regularly Inspect VASPs Including Businesses Other Than Exchanges
The FSC announced that it will expand its inspections this year to eliminate financial crimes involving virtual assets. The inspections will be conducted in three ways: comprehensive inspections, thematic inspections, and regular inspections. Cryptocurrency exchanges operating in the KRW market, such as Upbit, will be inspected first. Virtual asset exchanges also plan to strengthen joint review guidelines for delisting and prepare internal control standards.
Visit our official English blog to continue reading about the Korean authorities' plan to start regular inspections of VASPs including businesses other than exchanges.
