KakaoTalk's Virtual Asset Wallet 'Clip' Scales Back Functionality Ahead of Regulation
CryptoNewsTerminal Staff08 Jul, 2024
KakaoTalk's Virtual Asset Wallet 'Clip' Scales Back Functionality Ahead of Regulation
KakaoTalk's virtual asset wallet 'Clip' will no longer support virtual asset verification and transfer functions as of the 18th. This move is reportedly in line with the upcoming enforcement of the Virtual Asset Utilization Protection Act. Clip developer Ground X is also preparing to register as a virtual asset business operator (VASP). The Clip function's token confirmation and transfer feature will now only be supported in the dedicated app released in July 2022. Industry experts believe this decision aims to reduce the burden ahead of the regulatory changes.