2026-01-04 11:24:39

The Korean financial intelligence agency recently released the licensing application results for virtual asset service providers in 2025—only 2 companies passed the review and received acceptance. What does this number indicate? Compared to 2024, when 4 companies (including DSRV, INEX, B-DAX, and Dolphin) passed, the application approval rate has been cut in half.

There are no signs of easing in the market. Dunamu, the operator of Upbit, completed the license renewal approval in December last year, while the subsequent approval trends for leading platforms such as Korbit, Bithumb, Coinone, and Gopax are still under observation. Data shows that the entry barrier for virtual asset service providers in Korea is rising, and regulatory scrutiny standards seem to be tightening. This means that the difficulty for new entrants to enter the market is significantly increasing, and the overall competitive landscape of the industry is quietly changing.

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WalletsWatcher

· 12h ago

A complete shutdown, Korea is really tightening up. It seems even harder to enter later on. Regulations are becoming increasingly strict; small platforms have no chance. Are the leading ones still in the observation period? When will everything finally settle? Korea's pace feels like a reshuffle is coming. Two companies approved? Isn't this discouraging new entrants? Pity those platforms waiting in line for approval. No wonder no one dares to act easily; no one can figure out where the approval bottom line is.

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GasFeeCrying

· 01-05 22:45

Cut in half? This regulation is getting stricter year after year. Is Korea planning to completely shut out small players? From 4 companies in 2024 to now only 2, how desperate must that be... Only the top players are thriving comfortably. Wait, haven't Korbit and others been approved yet? It's still uncertain, and it feels like approvals will be even more difficult this year. It's easier to operate when there are many people, but now the top players are being scrutinized one by one, which is a bit frustrating. Isn't this just a disguised market cleanup? To survive, you need real skills and expertise. Forget about it if you don't have some background.

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MoonBoi42