#SouthKoreaCryptoPolicy New Regulations for Crypto Exchanges in South Korea: What You Need to Know

South Korea has implemented strict regulations for crypto exchanges to improve transparency and reduce the risks of financial crimes. As of 2021, all virtual asset service providers (VASPs) must register with the Financial Intelligence Unit (FIU) and comply with anti-money laundering (AML) and know your customer (KYC) standards.

Key requirements include:

Use of bank accounts with verified real names

Enhanced AML/KYC procedures and reporting of suspicious transactions

ISMS certification from the Korea Internet & Security Agency