Domestic Virtual Asset Service Providers Drop from 42 to 31... Increase in Renewal Non-compliance Cases

The number of domestic Virtual Asset Service Providers (VASPs) has sharply decreased from 42 to 31.

According to the Financial Intelligence Unit (FIU) on the 8th, the total number of domestic VASPs, including virtual asset exchanges, is now 31. Previously, 42 were registered, but 11 have been removed from the list in this announcement.

This is interpreted as companies that did not renew their registration after the expiration of their VASP status being excluded from the list. There are opinions that the renewal requirements have become more stringent compared to the initial registration in 2021, influenced by the implementation of the User Protection Act last year.

The companies that lost their VASP status due to expiration are △Gdac (PeerTech) △ProBit (Oceans) △Huobi Korea (Huobi) △Fleta Exchange △Hanbitco (Hanbitco Korea) △Btrade (Blockchain Company) △Coin&Coin △Cashierest (Newlink) △Tennten △Aprobit (Apro Korea) △MyKeepinWallet (CPLabs), totaling 11.

Additionally, those with remaining time to apply for renewal include △Oasis Exchange △Qubit △Cardo △Delio △Paycoin △Custella △Coinbit △Infinite Block △DSRV Labs △Bdex △Inex △Dolphin △Baumann, totaling 13.

Meanwhile, four companies newly registered as VASPs last year are △Wavebridge △DSRV Labs △Bdex △Inex. On the 17th of last month, Happy Block, a digital asset brokerage firm, received VASP approval.