Credit: Original article published by CryptoPotato.

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ProBit Exchange is currently completing its requirements to finalize its application to secure official Information Security Management System (ISMS) license certifications in their continual efforts to remain one of the most transparent crypto exchanges in Korea.

This rigorous and costly procedure involves the auditing of 104 unique categories as part of a comprehensive screening process covering information security management and information security protocols for all cryptocurrency exchanges with annual revenue exceeding 10 billion KRW.

ProBit Exchange has continually garnered high marks in trust metrics across aggregators CoinGecko and CoinMarketCap through transparent order books, volume, and liquidity.

Transparent practices have long been the motto of the rapidly growing exchange en route to solidifying a massive global network spanning over 600 clientele, 800,000 monthly active users, 500 projects, and 900 trading pairs. Supporting the diverse offerings is a robust foundation of security and asset safety as the exchange remains one of the few to avoid hacks.

ProBit Exchange has catapulted to the top echelon of industry leaders in Korea and will soon join the ranks of ISIS verified competitors including Bithumb, Upbit, Coinone, and Korbit.

Transparent Framework for VASP and Legitimizing the Industry

Following the passing of the monumental national governance amendment called the Special Financial Information Law back on March 5, 2020, cryptocurrencies became officially recognized as a legitimate asset class. Another stipulation of the new regulation required virtual asset service providers (VASPS) to establish accounts with verified names from domestic banks and obtain ISMS certifications.

Certifications will require approval by the Financial Services Commission and the Korea Internet & Security Agency followed by reporting to the Financial Intelligence Unit, the main regulatory body.

The new regulatory framework was welcomed by many in the industry as it provided the regulatory foundation to improve transparency and legitimacy of the domestic cryptocurrency industry. With the strengthening and enhanced scrutinization of key screening and anti-fraud measures including AML and KYC, this only bodes well for enhanced investor and asset protection in an industry ripe with fraudulent players.

The Special Financial Information Law will officially go into effect starting March 17, 2021, and will also introduce the first implementation of crypto tax measures as well as guidelines covering operations between validated VASPS and commercial banks.

ABOUT PROBIT EXCHANGE

ProBit Exchange is a global Top 20 crypto exchange in real daily trading volume that has successfully completed over 200 rounds of IEO. ProBit Exchange also features over 900 trading pairs – one of the highest in the market.

In celebration of its 2 year anniversary, ProBit Exchange will be airdropping a total of 50,000 USDT during their 2nd Birthday Event.

ProBit Exchange Key Figures

100,000+ community members
800,000+ monthly active users

3,000,000 monthly web visitors

50,000,000 users on partnering aggregators and wallets such as CoinMarketCap

Global outreach in 8 key languages & markets provided

Multilingual website supporting 41 different languages

Join our active programs and get a multitude of benefits!

  1. Trading Fee Discount: Buy PROB, pay trading fees with PROB & get as low as 0.03% trading fee
  2. Stake Mining: Stake PROB and earn PROB at a rate of 4% per annum
  3. Referral Program: Earn 10-30% of trading fees for referring friends to ProBit

ProBit Global: www.probit.com

ProBit Korea: www.probit.kr

ProBit Telegram: https://t.me/ProbitEnglish

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CryptosOnline.com does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

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