{"id":4819,"date":"2024-12-13T07:30:09","date_gmt":"2024-12-13T07:30:09","guid":{"rendered":"https:\/\/digitalcoinprice.com\/blog\/?p=4819"},"modified":"2024-12-13T07:31:43","modified_gmt":"2024-12-13T07:31:43","slug":"bydfi-joins-code-vasp-advancing-regulatory-efforts-in-korea","status":"publish","type":"post","link":"https:\/\/digitalcoinprice.com\/blog\/bydfi-joins-code-vasp-advancing-regulatory-efforts-in-korea","title":{"rendered":"BYDFi Joins CODE VASP, Advancing Regulatory Efforts in Korea"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-flat ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #223c50;color:#223c50\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #223c50;color:#223c50\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/digitalcoinprice.com\/blog\/bydfi-joins-code-vasp-advancing-regulatory-efforts-in-korea\/#CODE_VASP_A_Core_Force_for_Compliance_in_Korea\" title=\"CODE VASP: A Core Force for Compliance in Korea\">CODE VASP: A Core Force for Compliance in Korea<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/digitalcoinprice.com\/blog\/bydfi-joins-code-vasp-advancing-regulatory-efforts-in-korea\/#BYDFi_Official_Insights_Why_Joining_the_CODE_Alliance_Matters\" title=\"BYDFi Official Insights: Why Joining the CODE Alliance Matters\">BYDFi Official Insights: Why Joining the CODE Alliance Matters<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/digitalcoinprice.com\/blog\/bydfi-joins-code-vasp-advancing-regulatory-efforts-in-korea\/#BYDFi_Innovating_for_a_Secure_Crypto_Future\" title=\"BYDFi: Innovating for a Secure Crypto Future\">BYDFi: Innovating for a Secure Crypto Future<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/digitalcoinprice.com\/blog\/bydfi-joins-code-vasp-advancing-regulatory-efforts-in-korea\/#Contact_BYDFi\" title=\"Contact BYDFi\">Contact BYDFi<\/a><\/li><\/ul><\/nav><\/div>\n<p><span style=\"font-weight: 400;\">BYDFi <\/span><a href=\"https:\/\/support.bydfi.com\/hc\/en-us\/articles\/10476741758863-BYDFi-Joins-CODE-and-VerifyVASP-Alliances-2024-11-27\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">announced its official<\/span><\/a><span style=\"font-weight: 400;\"> membership in South Korea\u2019s CODE VASP Alliance on November 27, 2024. Travel Rule Compliance Solution integrates with it. All the regulations for cryptocurrency in South Korea are followed.<\/span><span style=\"font-weight: 400;\"> BYDi was welcomed into the Code previously. It officially invited BYDFi to participate within the same time frame <\/span><a href=\"https:\/\/www.blockstreet.co.kr\/news\/view?ud=2024112912484216422\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">as a post<\/span><\/a><span style=\"font-weight: 400;\">. 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.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"CODE_VASP_A_Core_Force_for_Compliance_in_Korea\"><\/span><b>CODE VASP: A Core Force for Compliance in Korea<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Bithumb, Coinone, and Korbit are Korea\u2019s top three crypto exchanges. They were the ones who launched the <\/span><a href=\"https:\/\/www.codevasp.com\/page-alliances\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">CODE VASP<\/span><\/a><span style=\"font-weight: 400;\">. It is the only industry platform that emphasizes adhering to the \u201cTravel Rules.&#8221; 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.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">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 <\/span><a href=\"https:\/\/www.codevasp.com\/page-alliances\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">VerifyVASP<\/span><\/a><span style=\"font-weight: 400;\">. This change will make cross-platform asset exchanges safer and more transparent. It will also make BYDFi a legitimate and secure platform.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-4820\" src=\"https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2024\/12\/CODE-VASP-A-Core-Force-for-Compliance-in-Korea-1024x506.png\" alt=\"CODE VASP: A Core Force for Compliance in Korea\" width=\"640\" height=\"316\" srcset=\"https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2024\/12\/CODE-VASP-A-Core-Force-for-Compliance-in-Korea-1024x506.png 1024w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2024\/12\/CODE-VASP-A-Core-Force-for-Compliance-in-Korea-480x237.png 480w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2024\/12\/CODE-VASP-A-Core-Force-for-Compliance-in-Korea-768x379.png 768w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2024\/12\/CODE-VASP-A-Core-Force-for-Compliance-in-Korea-1536x758.png 1536w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2024\/12\/CODE-VASP-A-Core-Force-for-Compliance-in-Korea.png 1600w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"BYDFi_Official_Insights_Why_Joining_the_CODE_Alliance_Matters\"><\/span><b>BYDFi Official Insights: Why Joining the CODE Alliance Matters<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Michael is one of the co-founders of BYDFi. He has explained in detail the relevance of this partnership.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWe worked very hard for a year and are excited to announce that our integration with CODE VASP&#8217;s compliance solution went smoothly. This important step ensures that BYDFi fully follows South Korea&#8217;s latest anti-money laundering rules. It&#8217;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.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">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.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"BYDFi_Innovating_for_a_Secure_Crypto_Future\"><\/span><b>BYDFi: Innovating for a Secure Crypto Future<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Forbes has ranked BYDFi as one of <\/span><a href=\"https:\/\/data1.bydfi.com\/t\/b\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">the top 10 global crypto exchanges<\/span><\/a><span style=\"font-weight: 400;\">. It provides access to over 600 tokens. It also provides leverage up to 1:200x. It makes it simple and <\/span><a href=\"https:\/\/data1.bydfi.com\/t\/b\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">cost-effective<\/span><\/a><span style=\"font-weight: 400;\"> for people of different backgrounds to buy cryptocurrencies. This is because of its integration with famous payment platforms like Banxa, Transak, and Mercuryo.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The &#8220;<\/span><a href=\"https:\/\/data1.bydfi.com\/t\/b\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">BYDFi Copy Trading<\/span><\/a><span style=\"font-weight: 400;\">&#8221; 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&#8217;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.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Contact_BYDFi\"><\/span><b>Contact BYDFi<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">You can contact us for inquiries and support on the following:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Website: <\/b><a href=\"https:\/\/www.bydfi.com\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">https:\/\/www.bydfi.com<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Support Email: <\/b><span style=\"font-weight: 400;\">CS@bydfi.com<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Business Partnerships:<\/b><span style=\"font-weight: 400;\"> BD@bydfi.com<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Media Inquiries:<\/b><span style=\"font-weight: 400;\"> media@bydfi.com<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">You can also connect with BYDFi through our social media platforms:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Twitter:<\/b><a href=\"https:\/\/twitter.com\/BYDFi\" target=\"_blank\" rel=\"nofollow noopener\"> <span style=\"font-weight: 400;\">https:\/\/twitter.com\/BYDFi<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>LinkedIn:<\/b><a href=\"https:\/\/www.linkedin.com\/company\/BYDFi\" target=\"_blank\" rel=\"nofollow noopener\"> <span style=\"font-weight: 400;\">https:\/\/www.linkedin.com\/company\/BYDFi<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Facebook: <\/b><a href=\"https:\/\/www.facebook.com\/BYDFiOfficial\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">https:\/\/www.facebook.com\/BYDFiOfficial<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Telegram:<\/b><a href=\"https:\/\/t.me\/BYDFiEnglish\" target=\"_blank\" rel=\"nofollow noopener\"> <span style=\"font-weight: 400;\">https:\/\/t.me\/BYDFiEnglish<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>YouTube:<\/b><a href=\"https:\/\/www.youtube.com\/@BYDFiOfficial\" target=\"_blank\" rel=\"nofollow noopener\"> <span style=\"font-weight: 400;\">https:\/\/www.youtube.com\/@BYDFiOfficial<\/span><\/a><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">You are welcome to get in touch with us in case of assistance, collaboration, and the latest news and updates of the crypto world!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BYDFi announced its official membership in South Korea\u2019s 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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4821,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-4819","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news-updates"],"_links":{"self":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/4819","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/comments?post=4819"}],"version-history":[{"count":3,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/4819\/revisions"}],"predecessor-version":[{"id":4824,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/4819\/revisions\/4824"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/media\/4821"}],"wp:attachment":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/media?parent=4819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/categories?post=4819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/tags?post=4819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}