South Korean security agency approves 1st crypto exchange: Upbit

posted 5 months ago
South Korea’s Internet and Security Agency (KISA) awarded Upbit an information security management system (ISMS) license, for its strong infrastructure. Upbit, South Korea’s largest cryptocurrency exchange by volume, has become the 1st to obtain an ISMS license.

In December 2017, KISA decided that all internet and data related companies generating more than $100 million in revenue would require an ISMS license. KISA assesses these firms based on over one-hundred criteria, to ensure they have strong internal management systems and security protocols. Following Upbit’s approval, the agency is now likely to request license filings from fellow exchanges, Bithumb, Korbit, and Coinone.
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