The National Assembly of South Korea passes an amendment to the Foreign Exchange Transactions Act, bringing cross-border transfer of crypto assets under the foreign exchange management system

According to ChainCatcher, market sources report that the South Korean National Assembly has passed the amendment to the Foreign Exchange Transaction Act, requiring companies engaged in virtual asset cross-border transfer business to register with the Ministry of Economy and Finance. The cross-border flow of virtual assets such as stablecoins will now be included in the foreign exchange authorities' management system.