As a seasoned crypto investor hailing from the bustling city of Seychelles, I have witnessed the evolution of the digital asset market over the years. The recent news of BYDFi joining the CODE VASP Alliance in South Korea is a significant development that has caught my attention.
Seychelles, Seychelles, December 16th, 2024, Chainwire
On November 27, 2024, it was officially announced that BYDFi joined South Korea’s CODE VASP Alliance. This partnership involves a successful integration with a Travel Rule compliance solution, ensuring compliance with the regulatory standards for cryptocurrency transactions in South Korea. In a post, CODE warmly welcomed BYDFi as a member of their alliance. This significant step underscores BYDFi’s commitment to compliance and its proactive approach, signaling a gradual move towards a more transparent, secure, and reliable future within the crypto industry.
CODE VASP: A Core Force for Compliance in Korea
The CODE VASP, established by the leading South Korean crypto exchanges Bithumb, Coinone, and Korbit, is the country’s sole platform dedicated to ensuring compliance with “Travel Rules.” The Alliance’s objective is to offer technical assistance to Virtual Asset Service Providers (VASPs) to meet the stringent Global Travel Rules standards as outlined by the Financial Action Task Force (FATF). This commitment to adherence will help these providers maintain robust Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) measures.
By adopting the compliance services of VerifyVASP, BYDFi has aligned itself with the stringent financial regulations established by South Korea under the Act on Reporting and Using Specific Financial Transaction Information. This strategic step is aimed at enhancing safety and transparency for cross-platform asset transfers, thereby positioning BYDFi as a reliable and compliant platform in terms of financial security.
BYDFi Official Insights: Why Joining the CODE Alliance Matters
Michael, one of the founders at BYDFi, highlighted the significance of this partnership: “Following a year of hard work, we are delighted to share that we’ve successfully integrated with CODE VASP’s compliance solution. This achievement means that BYDFi now adheres fully to South Korea’s most recent Anti-Money Laundering (AML) regulations, signifying substantial advancement in our global strategy for compliance. This collaboration not only fortifies our platform but also boosts user security, demonstrating our dedication to providing a top-tier cryptocurrency trading experience.
Reaching this key achievement marks a significant stride for BYDFi, as it continues to actively prioritize both regulatory compliance and innovation. The platform intends to offer a protected and transparent environment tailored to facilitate trading, specifically addressing the needs of the dynamic South Korean market.
About BYDFi
As a Forbes-honored platform ranked among the world’s leading ten crypto exchanges, BYDFi grants access to more than 600 different tokens and provides the opportunity for trading with leverage up to 200 times. The platform simplifies buying cryptocurrencies by integrating with well-known payment providers such as Banxa, Transak, and Mercuryo, ensuring a smooth and budget-friendly experience for users from all walks of life.
The upcoming “BYDFi Copy Trading” feature will allow users to effortlessly mimic the strategies of top traders by replicating their trades with a single click, aiming for optimal investment returns. BYDFi consistently pushes boundaries in innovation while prioritizing user needs, placing it among the global forefront of secure, dependable, and intelligent crypto trading platforms.
BYDFi Contacts
For inquiries and support, users can reach BYDFi via the following:
Support Email: CS@bydfi.com
Business Partnerships: BD@bydfi.com
Media Inquiries: media@bydfi.com
To stay connected with BYDFi through social media platforms:
Twitter( X )| LinkedIn| Facebook | Telegram| YouTube
Contact
Senior Media Director
Chloe
BYDFi Fintech LTD
chloe@bydfi.com
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2024-12-16 16:52