In a significant move signaling its commitment to global regulatory standards, Deepcoin has become the first overseas cryptocurrency exchange in 2024 to integrate with CODE, South Korea’s leading Travel Rule compliance solution. This integration marks a pivotal step in Deepcoin’s strategic expansion into the Asian market, particularly South Korea—one of the most active crypto economies in the world.
By connecting to the CODE (Connect Digital Exchanges) network, Deepcoin aligns itself with international anti-money laundering (AML) and counter-terrorism financing (CTF) frameworks established by the Financial Action Task Force (FATF). The partnership ensures secure and transparent information sharing between virtual asset service providers (VASPs), reinforcing trust and compliance across cross-border transactions.
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What Is the Travel Rule and Why It Matters
The Travel Rule, defined by the FATF, mandates that financial institutions and VASPs share specific customer data when transferring virtual assets above a certain threshold. In South Korea, this threshold is set at 1 million KRW (approximately $806.68). Required information includes the sender’s and receiver’s names, account numbers, and wallet addresses.
This rule enhances transaction traceability and helps prevent illicit financial activities such as money laundering and terrorist financing. For exchanges operating internationally, compliance is not optional—it's essential for legitimacy, user protection, and long-term sustainability.
South Korea implemented the Travel Rule through amendments to its Special Financial Transaction Information Act in March 2021. Since then, domestic exchanges like Bithumb, Korbit, and Coinone have adopted the CODE system as a unified compliance framework.
Deepcoin Joins Elite Group of Compliant Global Exchanges
Deepcoin’s successful integration places it among an elite group of only seven overseas exchanges approved to connect with the CODE network—including notable platforms like OKX and Bybit. Achieving this status required passing rigorous evaluation processes over nearly a year, demonstrating technical capability, security infrastructure, and adherence to AML protocols.
As part of the CODE VASP Alliance, Deepcoin can now enable seamless deposits and withdrawals with major South Korean exchanges. This interoperability fosters greater liquidity and accessibility for users while maintaining full regulatory compliance.
“This milestone reflects our unwavering dedication to building a secure, transparent, and innovative trading environment,” said Ego, Founder and CEO of Deepcoin. “Following our Dubai DMCC license approval in September 2023, connecting to CODE represents another breakthrough in our global compliance strategy.”
Strengthening Security and Transparency for Millions of Users
With over 10 million users worldwide, Deepcoin has positioned itself as a high-performance cryptocurrency trading platform offering advanced tools and robust infrastructure. Its mission centers on delivering:
- Security: Enterprise-grade protection against cyber threats.
- Transparency: Clear transaction records and real-time compliance reporting.
- Stability: High-availability systems ensuring smooth trading experiences.
- Innovation: Cutting-edge products tailored to evolving market needs.
The integration with CODE strengthens all four pillars. By enabling verified data exchange between VASPs, Deepcoin reduces fraud risks, improves audit readiness, and enhances user confidence—especially crucial in highly regulated markets like South Korea.
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Strategic Push into Asia: Tapping Into Korea’s Thriving Crypto Economy
According to data compiled by CCData, the Korean won (KRW) surpassed the U.S. dollar (USD) in November 2023 as the most traded fiat currency in cryptocurrency markets. This shift highlights South Korea’s dominant role in global crypto adoption.
Several factors contribute to this trend:
- A tech-savvy population with high internet penetration.
- Strong retail investor interest in blockchain innovations.
- Government support for blockchain development within regulated boundaries.
By becoming a certified member of the CODE ecosystem, Deepcoin gains direct access to this vibrant market. It signals to Korean users that the platform meets local regulatory expectations—building trust and encouraging broader adoption.
Moreover, Deepcoin’s presence reinforces its status as a truly global exchange committed to responsible growth. Rather than viewing regulation as a barrier, Deepcoin treats it as an opportunity—to innovate securely, serve users ethically, and lead industry-wide progress toward standardization.
The Role of CODE in Shaping Regional Compliance Standards
CODE was jointly developed by Bithumb, Coinone, and Korbit to streamline Travel Rule compliance across South Korea’s digital asset landscape. Instead of requiring each exchange to build custom solutions, CODE offers a centralized, interoperable protocol that simplifies data sharing while preserving privacy and security.
Key benefits of the CODE system include:
- Standardized messaging formats for consistent data transfer.
- Real-time verification of counterparties.
- Scalable architecture supporting future regulatory updates.
For international exchanges like Deepcoin, integrating with CODE eliminates friction in cross-border operations. It also sets a precedent for other regions seeking efficient compliance models that balance innovation with oversight.
Frequently Asked Questions (FAQ)
Q: What is the purpose of the FATF Travel Rule?
A: The Travel Rule requires VASPs to collect and share customer information during crypto transfers exceeding a set value (1 million KRW in Korea). Its goal is to increase transparency and combat financial crimes like money laundering.
Q: How does CODE help cryptocurrency exchanges comply with regulations?
A: CODE provides a unified technical framework that enables Korean and international exchanges to securely exchange sender and receiver data in real time, meeting local legal requirements efficiently.
Q: Is Deepcoin licensed in South Korea?
A: While Deepcoin is not domestically licensed, its integration with CODE demonstrates proactive compliance with Korean Travel Rule obligations—allowing it to interact securely with licensed domestic platforms.
Q: Can Korean users deposit funds directly into Deepcoin?
A: Yes—after the CODE integration, Deepcoin supports compliant transfers with major Korean exchanges, enabling smoother fund movements for users.
Q: Does this affect user privacy?
A: No. Only necessary transaction-related data is shared under strict protocols. Personal information remains protected through encryption and access controls built into the CODE system.
Q: What are Deepcoin’s next steps after entering Korea?
A: Deepcoin plans to expand its presence across Asia, focusing on markets with strong crypto adoption and clear regulatory frameworks—continuing its mission of secure, compliant innovation.
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Looking Ahead: Building a Compliant Future for Crypto
Deepcoin’s integration with CODE is more than a technical upgrade—it's a strategic declaration. It shows that responsible growth in the digital asset space is possible when innovation meets regulation.
As governments worldwide refine their crypto policies, platforms that prioritize compliance will gain competitive advantages. They’ll attract more users, build stronger partnerships, and help shape a sustainable financial future.
For Deepcoin, this journey is just beginning. With milestones achieved in Dubai and now South Korea, the exchange continues expanding its global footprint—proving that security, transparency, and user trust aren’t just goals—they’re foundations.
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