BitMart, a global digital assets trading platform, announced on March 29, 2023, that it has connected with CODE (Connect Digital Exchanges) to fulfill Travel Rule regulations recommended by the Financial Action Task Force (FATF). CODE is a Travel Rule solution created through a joint venture between the three major crypto exchanges in South Korea, Bithumb, Coinone, and Korbit. The Travel Rule is a FATF-mandated money tracking regulation that helps track the movement of virtual assets between virtual asset service providers (VASPs) like crypto exchanges or digital asset issuers. All cryptocurrency exchanges in South Korea must implement Travel Rule solutions in compliance with the Special Financial Transaction Information Act revised in March 2021. The Travel Rule requires exchanges to disclose cryptocurrency transactions involving 1 million Korean won ($806.68) and more, to combat money laundering and terrorist financing. BitMart’s CEO Sheldon Xia stated that the platform aims to comply with the regulatory obligations and strengthen anti-money laundering through the CODE Travel Rule solution.