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BYDFi Joins CODE VASP, Advancing Regulatory Efforts in Korea
December 16th, 2024 – Elles, Seychelles – BYDFi has announced its official membership in South Korea’s CODE VASP Alliance, solidifying the exchange’s commitment to regulatory compliance and ensuring a secure trading environment for users.
As part of the partnership with VerifyVASP, BYDFi has successfully integrated with the Travel Rule compliance solution, effectively meeting the Global FATF requirements set by the Financial Action Task Force (FATF). This integration marks a significant milestone in the exchange’s journey towards full compliance with South Korea’s Act on Reporting and Using Specific Financial Transaction Information.
BYDFi’s proactive approach to regulatory efforts underscores its dedication to providing a world-class crypto trading experience, emphasizing user security and transparency. The exchange is committed to adhering to AML (Anti-Money Laundering) and CFT (Counter-Terrorist Financing) standards, ensuring the safety of users’ assets.
“Joining CODE VASP’s compliance solution is a crucial step forward for BYDFi,” said Michael, Co-founder of BYDFi. “After an entire year of dedicated effort, we are thrilled to announce our successful integration with VerifyVASP’s Travel Rule compliance solution. This milestone marks significant progress in our global compliance strategy, strengthening our platform and enhancing user security.”
As a member of the CODE VASP Alliance, BYDFi is now fully equipped to ensure that all transactions conducted on its platform adhere to South Korea’s regulatory standards. This development reinforces the exchange’s commitment to innovation, transparency, and compliance.
About BYDFi
BYDFi has been recognized by Forbes as one of the top 10 global crypto exchanges. The exchange offers access to over 600 tokens and supports leverage trading up to 1:200x. BYDFi also integrates with popular payment providers like Banxa, Transak, and Mercurio, making it easy for users from all backgrounds to purchase cryptocurrencies.
Additionally, the platform is set to launch its “BYDFi Copy Trading” feature, allowing users to replicate the investment strategies of top traders with a single click.
Source: crypto-economy.com
