South Korea plans to strengthen regulation of "cross-border" cryptocurrency transactions

On October 25th, according to a report by Korean media eadily, the South Korean Vice Premier announced at the G20 meeting in Washington that we will advance the pre-emptive monitoring of virtual asset transactions abused in illegal activities such as cross-border tax evasion and "foreign exchange". The South Korean Vice Premier pointed out that South Korea plans to amend the foreign exchange law in the first half of next year to require mandatory reporting of transaction purposes and details in advance, with the goal of formally implementing it in the second half of the year.