FSC Chairman Koh Seungbeom presided over a joint meeting between the FSC and the FSS on September 22 to review the progress of registration of virtual asset service providers as the September 24 deadline for business registration draws near. As of September 22, six VASPs have filed their registration reports and the authorities have so far decided to grant approval to one entity (Upbit). The authorities expect that most VASPs and other entities (wallet or depository service providers) that have obtained ISMS certifications will file registration reports as 31 other entities (21 VASPs and 10 others) besides those mentioned above have entered preliminary consultation. During the meeting, Chairman Koh urged both virtual asset service providers and their users to take necessary steps to minimize damages inflicted on users.

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