According to Odaily, the Financial Commission of South Korea is set to implement the 'Specific Financial Transaction Information Reporting and Supervision Regulations' on June 27. These regulations include additional matters discovered during the operation of the reporting system, and establish a legal compliance system for virtual asset business operators. The regulations also include additional information about organizational personnel and major shareholders in the reporting items.
The authorities collected and reviewed relevant opinions from the virtual asset industry and related institutions from the 24th of last month to the 3rd of this month in the form of a 'Regulation Change Notice'. In these regulatory provisions implemented by the authorities, additional matters related to the compliance system of virtual asset-related laws such as the 'Special Financial Information Act' and the 'User Protection Act' have been added.
