The South Korean financial regulatory agency will implement the "Regulations on Specific Financial Transaction Information Reporting and Management" on the 27th. The regulations clarify the compliance system for virtual asset operators and add organizational personnel and major shareholders to the reporting items.
The regulatory agency solicited relevant opinions from the virtual asset industry and related institutions from the 24th of last month to the 3rd of this month through regulatory change announcements and has completed the review process.
In the new regulatory provisions, the regulatory agency will first report on the compliance system of relevant laws and regulations related to virtual assets, including the "Specific Financial Information Act" and the "Virtual Asset User Protection Act".