Strengthening Market Stability Through Korean VASP Financial Health Tests
The implementation of Korean VASP financial health tests marks a significant shift in how authorities oversee virtual asset service providers (VASPs). By moving beyond simple registration, the Financial Services Commission (FSC) now emphasizes rigorous capital requirements and liquidity buffers to ensure that platforms can withstand market volatility. This shift aligns with broader efforts to integrate digital assets into the national Finance ecosystem while mitigating systemic threats.