{"id":32850,"date":"2022-08-08T03:45:50","date_gmt":"2022-08-08T07:45:50","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=32850"},"modified":"2022-08-08T03:45:54","modified_gmt":"2022-08-08T07:45:54","slug":"crypto-com-achieves-significant-regulatory-progress-in-south-korea","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/crypto-com-achieves-significant-regulatory-progress-in-south-korea\/","title":{"rendered":"Crypto.com achieves significant regulatory progress in South Korea"},"content":{"rendered":"\n
Co-founder and CEO Kris Marszalek remarked, “This is an exciting next step for Crypto.com in an important market.”<\/h5>\n\n\n\n
\"Crypto.com
Crypto.com achieves significant regulatory progress in South Korea<\/figcaption><\/figure>\n\n\n\n

After acquiring two local businesses and reaching a significant regulatory milestone in South Korea, Crypto<\/a>.com has announced access to registration for payments and cryptocurrencies.<\/p>\n\n\n\n

The company had previously announced the purchase of virtual asset service provider “OK-BIT Co. Ltd.” and payment service provider “PnLink Co. Ltd.” during Korea Blockchain Week 2022.<\/p>\n\n\n\n

As a result of the action, crypto.com are now officially registered as South Korean <\/a>Virtual Asset Service Providers under the Electronic Financial Transaction Act.<\/p>\n\n\n\n

\n

We're excited to share that we\u2019ve achieve another key regulatory milestone:

EFTA + VASP registration in South Korea \ud83d\ude80\ud83c\uddf0\ud83c\uddf7https:\/\/t.co\/vCNztABJoG\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> is committed to being the industry leader in regulatory compliance.

Full Details \ud83d\udc47https:\/\/t.co\/5D9hVQIDAl<\/use><\/svg><\/span><\/a> pic.twitter.com\/kWjy7XaK4r<\/use><\/svg><\/span><\/a><\/p>— Crypto.com (@cryptocom) August 8, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

Registration as a virtual asset service provider will enable Crypto.com to offer custody and exchange services for digital assets. While registration under the Electronic Financial Transaction Act keeps them compliant with the legislation governing the security and legitimacy of electronic financial transactions.<\/p>\n\n\n\n

Crypto.com did not specify whether this meant it can provide its entire range of cryptocurrency<\/a> trading services in the nation.<\/p>\n\n\n\n

The CEO of Crypto.com, Eric Anziani, who spoke at the conference, also independently confirmed the news on Twitter on August 7 by writing:<\/p>\n\n\n\n

\u201cToday we announced that we have secured both payment and crypto registrations in South Korea, one of the most advanced\u00a0#crypto\u00a0market globally\u201d<\/p><\/blockquote>\n\n\n\n

General Manager Patrick Yoon stated in a press release: “We believe our services can not only enable the larger construction and development of our Web3 ecosystem but also help further evolve and empower commerce in Korea.”<\/p>\n\n\n\n

The announcement comes after Crypto.com received provisional approval for its virtual asset license from the Dubai Virtual Assets Regulatory Authority and in-principle permission for a major payment institution license from the Monetary Authority of Singapore.<\/p>\n\n\n\n

Additionally, they are registered with the Securities and Exchange Commission of Cyprus<\/a>, the Organismo Agenti e Mediatori (OAM) of Italy, and the Hellenic Capital Market Commission of Greece.<\/p>\n","protected":false},"excerpt":{"rendered":"

Co-founder and CEO Kris Marszalek remarked, “This is an exciting next step for Crypto.com in an important market.” After acquiring two local businesses and reaching a significant regulatory milestone in South Korea, Crypto.com has announced access to registration for payments and cryptocurrencies. The company had previously announced the purchase of virtual asset service provider “OK-BIT […]<\/p>\n","protected":false},"author":38,"featured_media":32855,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1360],"class_list":["post-32850","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto-com"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/shutterstock_732478903.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/32850","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=32850"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/32850\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/32855"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=32850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=32850"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=32850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}