#SouthKoreaCryptoPolicy SouthKoreaCryptoPolicy

The crypto policy of South Korea focuses on establishing a comprehensive regulatory framework for digital assets. Here are the key aspects

# Regulatory Framework

- The Financial Services Commission (FSC) is the main regulatory body responsible for formulating policies and supervising Virtual Asset Service Providers (VASP).

- The Korea Financial Intelligence Unit (KoFIU) receives Suspicious Transaction Reports (STR) from financial institutions and analyzes them.

# Requirements for VASP

- *Registration*: VASP must register with the KoFIU before starting business operations.

- *Anti-Money Laundering (AML)*: VASP must comply with AML regulations, including: