Regional reports disclose South Korea’s Financial Services Commission (FSC) had a closed-door meeting with roughly 20 different cryptocurrency exchanges on June 3. The report highlights that virtual asset business operators (VASPs) that attended the meeting all had ISMS (Information Security Management System) certification.
South Korean Regulator Holds a Closed-Door Meeting With 20 VASPs
A report stemming from D.Street who quoted undisclosed sources stated the South Korean FSC met with 20 “small and medium-sized exchanges in South Korea” to discuss the cryptocurrency environment.
The insiders further noted that the exchanges could detail grievances to the financial regulator. ISMS certified exchange representatives who attended the meeting came from companies like Upbit, Bithumb, Korbit, Coinone, Kordax, Coinncoin, Tennten, Poblegate, and Flybit.
The meeting was called the “Report Registration Guidance Consulting” and the report noted that only Upbit, Bithumb, Korbit, and Coinone have met the “real name” trading requirement. These four crypto exchanges are known as the “Big Four” in South Korea.