South Korea’s financial regulator approves new virtual asset service provider for first time in a year

PANews reported on September 25 that according to Digital Asset, the Financial Intelligence Unit (FIU) of the Financial Services Commission of South Korea approved the registration of virtual asset service providers (VASPs) for the first time in a year. The entities approved for registration include virtual asset infrastructure company DSRV and crypto asset custodian BDACS. DSRV submitted its registration application in October 2023 and was approved about a year later, while BDACS submitted its application in February 2024 and was approved about six months later.