Events listed in Act on Reporting and Using Specified Financial Transaction Information
KoFIU Advises VASPs to Inform Customers about Business Closure One Month before ...
ID 25887
On 21 November, KoFIU released comprehensive guidelines directed at VASPs contemplating business termination. The advisory underscores the imperative for VASPs to proactively inform their clientele about impending closures at least one month before the anticipated termination date. In delineating the cessation process, VASPs are first urged to institute an internal mechanism geared towards mitigating potential losses for virtual asset users. This involves issuing advance ...