Ajoo Economic Daily reported that as global virtual asset exchange Binance expands its promotional activities targeting domestic media, the controversy surrounding the scope of domestic business operations by unregistered foreign virtual asset service providers is growing. According to the financial investment industry on the 17th, Binance has held press conferences in Korea since the beginning of this year and has been successively distributing materials introducing its services and technological capabilities. The issue is whether such activities can be considered business operations targeting domestic residents under the Act on Reporting and Using Specified Financial Transaction Information. Binance has not registered as a virtual asset service provider in Korea.
