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BYDFi Joins CODE VASP, Advancing Regulatory Efforts in Korea
In a move aimed at strengthening its commitment to regulatory compliance, leading cryptocurrency exchange BYDFi has announced its official membership in South Korea’s premier self-regulatory organization, the Cryptocurrency Data Exchange (CODE) Virtual Asset Service Providers (VASP) Alliance. This strategic partnership underscores BYDFi’s dedication to upholding the highest standards of transparency and security within the digital asset ecosystem.
As part of this alliance, BYDFi has successfully integrated VerifyVASP’s compliance solution, ensuring seamless adherence to South Korea’s stringent Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) regulations. This pivotal step not only reinforces BYDFi’s commitment to regulatory excellence but also positions the exchange as a pioneer in the global digital asset market.
The CODE VASP Alliance, founded by top Korean crypto exchanges Bithumb, Coinone, and Korbit, is the nation’s sole industry-driven platform focused on Travel Rule compliance. The organization’s mission aligns with BYDFi’s relentless pursuit of innovation and excellence, as it works tirelessly to provide a secure, reliable, and intelligent crypto trading experience.
BYDFi’s Co-founder Michael emphasized the significance of this partnership: “After a year of dedicated effort, we are thrilled to announce our successful integration with CODE VASP’s compliance solution. This milestone not only ensures that BYDFi fully complies with South Korea’s latest AML regulations but also marks a significant step forward in our global compliance strategy. By joining forces with the CODE Alliance, we will continue to enhance user security while providing a world-class crypto trading experience.”
This critical development underscores BYDFi’s unwavering commitment to regulatory compliance and responsible innovation. As a Forbes-recognized top 10 global crypto exchange, BYDFi has consistently demonstrated its dedication to delivering an unparalleled crypto trading experience.
The alliance with CODE VASP Alliance marks the beginning of a new era in regulatory efforts in Korea, as BYDFi reinforces its position as a market leader by embracing transparency and accountability.
Source: http://www.crypto-news.net
