Launch of Code and Travel Rule Status Management System

[Asia Economy Reporter Lee Jung-yoon] Code announced on the 20th that it has launched a Travel Rule status management system to enable member companies to easily and conveniently manage the operation status of the Travel Rule.

The Travel Rule is a system that verifies virtual asset transfer and receipt information to prevent money laundering, and South Korea is the first country in the world to legally implement it. The Travel Rule status management system launched by Code applies a dashboard-type UI, allowing member companies to check the operation status and statistics of the Travel Rule at a glance. In addition, it enhances management efficiency by allowing data to be queried by conditions such as transfer/receipt type, inquiry period, virtual asset, and virtual asset service provider. Furthermore, the service is provided in both Korean and English for virtual asset service providers from various countries.

A Code official stated, "We hope that through the Travel Rule status management system, AML officers of member companies can efficiently manage virtual asset movement records and contribute to preventing money laundering. We also plan to continue supporting regtech services that enable member companies to comply with regulations conveniently and safely while focusing on their business."

Meanwhile, Code is a company jointly established by three domestic virtual asset exchanges?Bithumb, Coinone, and Kobit?and currently has about 30 exchanges and wallet companies as members.