Tokyo FinTech
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Tokyo FinTech

Korea grants 29 Virtual Asset Service Providers (VASPs) approval

The Korea Financial Intelligence Unit (KoFIU) has announced the results of the business registration review on Virtual Asset Service Providers (VASPs) on December 23.

Out of 42 VASPs that have filed registrations with the authority, the KoFIU has approved 29 entities, with the decision on five entities being postponed and eight others withdrawing their decision to register.

The 29 approved entities include the major four cryptocurrency exchanges, which all have arrangements to deal with real-money accounts at registered financial institutions and are hence allowed to trade fiat/crypto pairs. Another 20 exchanges are approved for crypto/crypto trading. The remaining five entities are wallet or depository service providers.

Fiat/Crypto Trading

Crypto/Crypto Trading

Wallets

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