Bithumb Announces Update to VASP System, Integrates CODE Travel Rule Solution

Techub News reports that South Korean cryptocurrency exchange Bithumb has announced the completion of an update to its Virtual Asset Service Provider (VASP) system, integrating the CODE travel rule solution. This move aims to enhance the platform's compliance with anti-money laundering and counter-terrorism financing regulations. The travel rule requires VASPs to share information about both parties involved in virtual asset transfers, and CODE is one of the solutions recognized by the Korea Financial Intelligence Unit (KoFIU). This update will help Bithumb process transactions that meet regulatory requirements more efficiently.