BYDFi announced its official membership in South Korea’s CODE VASP Alliance on November 27, 2024. Travel Rule Compliance Solution integrates with it. All the regulations for cryptocurrency in South Korea are followed. BYDi was welcomed into the Code previously. It officially invited BYDFi to participate within the same time frame as a post. This shows the degree of care that BYDFi takes in following the guidelines. It also shows that the crypto industry has a more accessible, safe, and reliable future.
CODE VASP: A Core Force for Compliance in Korea
Bithumb, Coinone, and Korbit are Korea’s top three crypto exchanges. They were the ones who launched the CODE VASP. It is the only industry platform that emphasizes adhering to the “Travel Rules.” The Financial Action Task Force (FATF) has set some Global Travel Rules. The Alliance wants to help Virtual Asset Service Providers (VASPs) fully follow the set directives. This will also help in meeting strict anti-money laundering (AML) and counter-terrorist financing (CFT) standards.
South Korea under the Act on Reporting and Using Specific Financial Transaction Information has some strict norms. In order to follow them, BYDFi incorporated the security services of VerifyVASP. This change will make cross-platform asset exchanges safer and more transparent. It will also make BYDFi a legitimate and secure platform.
BYDFi Official Insights: Why Joining the CODE Alliance Matters
Michael is one of the co-founders of BYDFi. He has explained in detail the relevance of this partnership.
“We worked very hard for a year and are excited to announce that our integration with CODE VASP’s compliance solution went smoothly. This important step ensures that BYDFi fully follows South Korea’s latest anti-money laundering rules. It’s a big step forward in our global compliance strategy. This partnership has made the platform stronger and safer for users. It shows our commitment to provide the best crypto trade experience.”
This move of BYDFi is a good strategy to provide better innovation and safety. Its goal is to meet the needs of the South Korean market and offer a safe and open place for crypto trade.
BYDFi: Innovating for a Secure Crypto Future
Forbes has ranked BYDFi as one of the top 10 global crypto exchanges. It provides access to over 600 tokens. It also provides leverage up to 1:200x. It makes it simple and cost-effective for people of different backgrounds to buy cryptocurrencies. This is because of its integration with famous payment platforms like Banxa, Transak, and Mercuryo.
The “BYDFi Copy Trading” feature is going to launch soon. It will help new users to follow the crypto investment technique of a top trader with just one click and get the highest possible return on their purchases. BYDFi will become one of the world’s most advanced, secure, and smart crypto trade platforms. It introduces new features and upgrades itself on a regular basis. It also has a complete focus on following a user-centric approach.
Contact BYDFi
You can contact us for inquiries and support on the following:
- Website: https://www.bydfi.com
- Support Email: CS@bydfi.com
- Business Partnerships: BD@bydfi.com
- Media Inquiries: media@bydfi.com
You can also connect with BYDFi through our social media platforms:
- Twitter: https://twitter.com/BYDFi
- LinkedIn: https://www.linkedin.com/company/BYDFi
- Facebook: https://www.facebook.com/BYDFiOfficial
- Telegram: https://t.me/BYDFiEnglish
- YouTube: https://www.youtube.com/@BYDFiOfficial
You are welcome to get in touch with us in case of assistance, collaboration, and the latest news and updates of the crypto world!