According to Wu, the Financial Intelligence Unit (FIU) under the Financial Services Commission of South Korea announced its 2024 work plan, which plans to prevent unqualified virtual asset exchanges from entering the Korean won market and strengthen reporting screening and anti-money laundering (AML) inspections. The FIU will conduct a preliminary review in the first half of the year, taking into account aspects such as money laundering risks, market operation capabilities, and user protection, and conduct a thorough cleanup in the second half of the year to expel unqualified virtual asset business operators. The FIU also strengthened business reporting requirements by revising the Specific Financial Information Act in the first half of the year to prevent unqualified virtual asset business operators from entering the market.