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South Korean financial authorities have introduced updated requirements for virtual asset operators, expanding the reporting criteria to include changes in the locations or registered foreign executives. Previously, operators were only required to report changes in their address or executives. This change reflects the authorities' heightened scrutiny of virtual asset operations in South Korea.

The #decision to demand full #disclosure regarding foreign executives could be seen as part of the broader regulatory efforts to tighten oversight of the virtual asset industry in the country. This #change coincides with Binance's recent acquisition of Gopax, a South Korean cryptocurrency exchange. Such #regulatory actions indicate the authorities' commitment to closely monitor and #maintain control over the rapidly evolving digital asset sector to ensure compliance with local laws and regulations.