DAXA Brings in Legal Experts to Strengthen Compliance Measures

On April 26th, DAXA, a joint advisory body of the Korea Digital Asset Exchange, announced the appointment of Si mook Kim, a lawyer at Law Firm Law, and Lee Min seop, the head of the anti money laundering team at Kim&Chang Law Firm, as members of the advisory committee. DAXA disclosed the implementation status and plan of self-regulation on the 3rd, revealing that it has established an anti money laundering department and Upbit is responsible for the anti money laundering subcommittee. （Decenter）

South Korea’s DAXA Appoints New Advisory Members for its Anti Money Laundering Advisory Committee

DAXA, the joint advisory body of the Korea Digital Asset Exchange, has appointed two lawyers, Si mook Kim and Lee Min Seop, to its advisory committee. The move comes as DAXA seeks to strengthen its compliance measures and self-regulation efforts.

Anti-Money Laundering Measures Established

On April 3rd, the Korea Digital Asset Exchange revealed its plans for self-regulation, disclosing the establishment of an anti-money laundering department with Upbit as its subcommittee chair. The move comes as part of an effort to promote transparency and legitimacy in the digital asset industry, which has recently been plagued by high-profile security breaches and allegations of market manipulation.

The Importance of Compliance in the Digital Asset Industry

As digital assets continue to gain traction as a legitimate asset class, regulatory compliance and transparency will become increasingly important. Digital asset exchanges, in particular, will need to establish strong anti-money laundering measures to prevent illicit activities and ensure the safety and security of their clients’ assets.

Meet the New Members of DAXA’s Advisory Committee

Si Mook Kim, a lawyer at Law Firm Law, brings extensive experience in regulatory compliance and corporate law to DAXA’s advisory committee. With a deep understanding of the legal and regulatory landscape surrounding digital assets, he will play an important role in guiding DAXA’s compliance efforts.
Lee Min Seop, the head of the anti-money laundering team at Kim&Chang Law Firm, is a leading expert in the field of financial crime prevention. With experience advising financial institutions on anti-money laundering measures, he will bring a wealth of expertise to DAXA’s advisory committee and play an important role in shaping the future of compliance in the digital asset industry.

Conclusion

DAXA’s appointment of Si mook Kim and Lee Min Seop to its advisory committee signals its commitment to compliance and regulatory transparency in the digital asset industry. As the digital asset landscape continues to evolve, it is critical that exchanges take measures to prevent illicit activities and protect the interests of their clients.

FAQs

1. What is DAXA?
DAXA is a joint advisory body of the Korea Digital Asset Exchange.
2. Why is compliance important in the digital asset industry?
Compliance is important in the digital asset industry to prevent illicit activities and ensure the safety and security of clients’ assets.
3. What role do Si mook Kim and Lee Min Seop play in DAXA’s advisory committee?
Si mook Kim and Lee Min Seop bring extensive legal expertise and experience in compliance and anti-money laundering measures to DAXA’s advisory committee.