Independent Entity ProBit Remains One of the Last Korean Exchanges Following ISMS Certification Approval
ProBit Global is thrilled to announce that its independently operating entity ProBit has been approved for the Information Security Management System (ISMS) license certification ISMS-KISA-2021–043 as part of ProBit’s continual efforts to remain one of the most transparent crypto exchanges in Korea.
The license was officially issued on March 17, 2021, and will legitimize ProBit’s operations to service Korean users for the next 3 years in accordance with local jurisdiction.
As the latest exchange to receive KISA’s stamp of approval, ProBit will now join a select handful of South Korean virtual asset providers to successfully comply with the Special Act mandated ISMS certification for transparent, long-term exchange operations.
The rigorous and costly procedure involves the auditing of 104 unique categories as part of a comprehensive screening process covering information security management and information security protocols for all cryptocurrency exchanges with annual revenue exceeding 10 billion KRW following the passage of the Special Financial Information Law
ProBit Global’s transparent practices have long been the motto of the rapidly growing exchange en route to solidifying a massive global network spanning over 600 clientele, 1,000,000 monthly active users, 600 projects, and 1,000 trading pairs.
The exchange has continually garnered high marks in trust metrics across aggregators CoinGecko and CoinMarketCap through transparent order books, volume, and liquidity.
Supporting the diverse offerings is a robust foundation of security and asset safety as the exchange remains one of the few to avoid hacks due to institutional-grade features.
With ProBit completing the critical step of completing ISMS requirements and obtaining certification to service South Koreans, ProBit Global will be focused on rolling out innovative features and user benefits in the near future for its worldwide users as it solidifies its ranks among the crypto elite.
Transparent Framework for VASP and Legitimizing the Industry
The Special Financial Information Law officially went into effect on March 17, 2021, and represents the first implementation of crypto tax measures as well as guidelines covering operations between validated VASPS and commercial banks.
Following the passing of the monumental national governance amendment back on March 5, 2020, cryptocurrencies became officially recognized as a legitimate asset class. Another stipulation of the new regulation required virtual asset service providers (VASPS) to establish accounts with verified names from domestic banks and obtain ISMS certifications.
Certifications will require approval by the Financial Services Commission and the Korea Internet & Security Agency followed by reporting to the Financial Intelligence Unit, the main regulatory body.
The new regulatory framework was welcomed by many in the industry as it provided the regulatory foundation to improve the transparency and legitimacy of the domestic cryptocurrency industry. Following the strengthening and enhanced scrutinization of key screening and anti-fraud measures including AML and KYC, this only bodes well for enhanced investor and asset protection in an industry ripe with fraudulent players.
ABOUT PROBIT GLOBAL
ProBit Global is a Top 20 crypto exchange worldwide servicing crypto enthusiasts with unlimited access to trade and buy Bitcoin, Ethereum and 600+ altcoins in 1000+ markets.
PROBIT GLOBAL IS A BRAND TRUSTED BY MILLIONS OF USERS
200,000+ community members
1,000,000+ monthly active users
3,000,000 monthly web visitors
50,000,000 users on partnering aggregators and wallets such as CoinMarketCap
User interface of Multilingual website supporting 41 different languages
Marketing and community support in 8 key languages
Join our active programs and get huge benefits!
1. Trading Fee Discount: Buy PROB, pay trading fees with PROB & get as low as 0.03% trading fee
2. Referral Program: Earn 10–30% of trading fees for referring friends to ProBit
3. ProBit Exclusive: Subscribe to 50% off Top 200 tokens
4. Auto Hold Campaigns: Hold tokens and get 6% annualized returns
ProBit Global: www.probit.com
ProBit Telegram: https://t.me/ProbitEnglish
