South Korea Delays Credit Information Law for Virtual Asset Providers
According to PANews, South Korean financial authorities have decided to postpone the implementation of the Credit Information Law for Virtual Asset Service Providers (VASPs) until December 1, 2025. Previously, the Financial Services Commission classified cryptocurrency users' transaction data as 'credit information,' requiring cryptocurrency exchanges to comply with the law. However, due to insufficient preparation time for the industry, the Financial Supervisory Service chose not to penalize related violations during the grace period, except in cases of willful or gross negligence.
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