BitGo Korea has successfully obtained Virtual Asset Service Provider (VASP) registration for its institutional crypto custody services. This approval came on Tuesday, just two days before South Korea implemented stricter requirements for VASP entry, according to CoinTelegraph.
The timing of this registration allows BitGo Korea to continue operating under the existing regulatory framework, positioning it well within the evolving crypto custody landscape. The move reflects growing regulatory scrutiny in South Korea as authorities tighten oversight of virtual asset services.
For Japanese investors and market participants, BitGo Korea's timely registration highlights the increasing regulatory pressures across Asian crypto markets, emphasizing the importance of compliance in institutional crypto custody services.