South Korean financial regulators have postponed the implementation of the Credit Information Act on cryptocurrency exchanges until December

ChainCatcher news, according to Digital Today, South Korean financial regulators have decided to postpone the application of the Credit Information Act to virtual asset service providers (VASP) until December 1, 2025. Previously, the Financial Services Commission defined cryptocurrency user transaction information as "credit information," requiring cryptocurrency exchanges to comply with this law. Considering the insufficient preparation time for the industry, the Financial Supervisory Service has decided not to impose penalties for related violations during the grace period, unless there are exceptions such as intentional misconduct or gross negligence.