The whitepaper is the result of Amber Group's efforts to provide practical guidance for digital asset management organizations to strengthen risk control, improve compliance measures, and ensure asset security. It offers an in-depth yet accessible analysis – including case studies – of the industry's technical aspects, compliance requirements, and regulatory standards. They hope it can help institutions deal with an increasingly challenging context.Amber, thoughtworks
s Financial Services Agency (FSA) focuses on the need for registered entities to have better incident response and business continuity management. Detailed items such as the establishment of a management organization with DRP and BCP, communication mechanism, incident response process and business continuity system management policy; at the same time, it should regularly implement incident response drills for high-risk scenarios such as cyber-attacks, recovery of digital asset custodian wallets, loss of digital assets, and so on.
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3.3.2.4 CYBERSECURITY REQUIREMENTS OF THE KOREA INTERNET SECURITY AGENCY (KISA) The South Korean government has gradually escalated its regulation of virtual assets in recent years and issued the Specific Financial Transactions Information Reporting and Use Act (SFTR, Special Financial Transactions Information Act) in January 2018, which requires virtual currency exchanges to implement a real-name system and to submit relevant transaction information. In March 2020, the National Assembly of South Korea passed the Specific Financial Transactions Reporting and Use Act (SFIA, Special Financial Transactions Information Act), which regulates virtual asset service providers (VASPs) and imposes anti-money laundering (AML) obligations on them. In addition, the Act provides a definition of virtual assets to better regulate them. 2021 On March 25, 2021, the Korean government amended the SFIA Act to further strengthen the regulation of VASPs and to require VASPs to report transaction information
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certification.
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K-ISMS is a standard for assessing whether businesses and organizations are operating and managing their information security management systems consistently and securely to thoroughly protect their information assets. The standard's requirements for cyber security focus on the following areas: 79 1) Establishment and application of management system: Institutions should establish a comprehensive information security management system, covering levels including the establishment of organizational structure, system construction, information security risk management process, independent audit function, and continuous supervision and selfinspection and rectification process. 2) Policy, organization and asset management: The agency clearly defines and delineates roles
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