Virtual-asset transaction data to be classified as 'credit information'…Credit Information Act regulations to apply to exchanges
Summary
- It said virtual-asset transaction data will be included in credit information, and virtual-asset service providers will become subject to the Credit Information Act.
- It said the amendment includes virtual-asset transaction data within the scope of credit information and defines virtual-asset service providers as credit information providers and users.
- The FSC said that incorporating virtual-asset transaction data into credit information will strengthen protection of exchange users’ information.
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From now on, virtual-asset (cryptocurrency) transaction data will be included in credit information. Virtual-asset service providers, including exchanges, will also fall under the Credit Information Act.
On the 27th, the Financial Services Commission (FSC) said on its official website that the Cabinet had approved an amendment to the Enforcement Decree of the Credit Information Act and that it would take effect from that day.
The centerpiece of the amendment is to explicitly include information related to virtual-asset transactions within the scope of credit information and to clearly define virtual-asset service providers as credit information providers and users.
The FSC said, "With virtual-asset transaction data clearly defined as credit information, protection of information on exchange users will be further strengthened."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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