Under draft rules, companies that issue or own crypto will have to make disclosures in their financial statements starting next year.

South Korea will require companies that own or issue crypto to disclose their holdings in financial statements from 2024 onwards, according to draft rules released by the country's financial regulator on Tuesday.

Under the new rules, companies will need to disclose information about the quantity, characteristics, business models and accounting policies regarding the sale of virtual currencies as well as profits, volume and market value of their crypto.

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