Compliance obligations are the mandatory duties an entity must satisfy to conform with laws, regulations, and industry standards. These requirements ensure operational legality and maintain trust with regulators and customers. For digital asset firms, these often include anti-money laundering and data security protocols.
Context
Digital asset firms continually grapple with a complex and evolving set of compliance obligations across different jurisdictions. Staying current with these duties is critical for operational continuity and avoiding penalties. Recent news highlights increasing enforcement actions against companies failing to meet these regulatory demands, underscoring their importance.
South Korea's new Virtual Asset Basic Law mandates comprehensive oversight, reclassifying firms and setting stablecoin standards, fundamentally altering market operations.
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