BYDFi Joins CODE VASP to Advance Regulatory Efforts in Korea
On November 27, 2024, BYDFi made an exciting announcement—it’s now an official member of South Korea’s CODE VASP Alliance! This partnership is a big deal because it means BYDFi has successfully integrated with a Travel Rule compliance solution, showing its commitment to following South Korea’s regulatory standards for crypto transactions. The CODE VASP Alliance, led by Korea’s top crypto exchanges, Bithumb, Coinone, and Korbit, focuses on ensuring Virtual Asset Service Providers (VASPs) comply with Global Travel Rules set by the Financial Action Task Force. This is all part of an effort to crack down on money laundering and terrorist financing.
By partnering with VerifyVASP to meet South Korea’s strict regulations, BYDFi is now better equipped to offer a safe and transparent platform for cross-platform asset transfers. This move shows BYDFi’s dedication to compliance and innovation in the crypto space.
Michael, Co-founder of BYDFi, shared his thoughts on the partnership, highlighting how important it is for BYDFi to comply with South Korea’s AML regulations. This milestone not only strengthens BYDFi’s platform but also enhances user security, showing BYDFi’s commitment to providing a top-notch crypto trading experience.
Forbes-recognized BYDFi is known for offering access to over 600 tokens and supporting leverage trading up to 1:200x. It’s also making it easier for users to buy cryptocurrencies by integrating with payment providers like Banxa, Transak, and Mercuryo. Keep an eye out for the upcoming “BYDFi Copy Trading” feature, which will allow users to follow and learn from successful traders.
