ChainCatcher news, the Financial Intelligence Unit (FIU) of the South Korean Financial Services Commission has approved the registration of virtual asset service providers (VASPs) for the first time in a year. The approved entities include virtual asset infrastructure company DSRV and crypto asset custody institution BDACS. DSRV submitted its registration application in October 2023 and received approval about a year later, while BDACS submitted its application in February 2024 and received approval about six months later.

ChainCatcher news, the South Korean Financial Services Commission reiterated its commitment to restricting financial institutions from issuing cryptocurrency ETFs, stating that the stability of the financial market and investor protection are the reasons for maintaining the current restrictions. Currently, South Korea's Capital Markets Act limits the underlying assets of investment contract securities such as ETFs to financial investment instruments, currencies, and ordinary goods, but does not include cryptocurrencies.

ChainCatcher news, according to Decenter citing informed sources, the Financial Intelligence Unit (FIU) of the Financial Services Commission (FSC) of South Korea has suggested the dismissal of Delio CEO Jung Sang-ho (phonetic) through a sanctions announcement. Previously, the FIU also imposed a three-month business suspension on Delio and fined it 1.896 billion won.Delio is preparing to file an administrative lawsuit regarding this matter. Delio CEO Jung Sang-ho stated, "The sanctions from the financial intelligence agency leave a lot of room for unreasonable legal interpretations and arbitrary applications, and such actions by the financial authorities could stifle the domestic virtual asset industry."