South Korea Postpones Credit Information Law for VASP Industry

South Korea’s financial regulatory body has announced a delay in enforcing the Credit Information Act for virtual asset service providers (VASPs). The deadline for implementation has been pushed back to December 1, 2025. Previously, the Financial Services Commission treated cryptocurrency user transaction data as ‘credit information’, requiring exchanges to comply with this law. However, due to limited time for industry preparation and to avoid penalties during the transition, the Financial Supervisory Service will not impose penalties for violations unless they involve intentional or gross negligence.