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

on October 25th, according to Korean media eadily, the South Korean Deputy Prime Minister announced at the G20 meeting held in Washington that we will promote pre-monitoring of virtual asset transactions that are abused in illegal activities such as cross-border tax evasion and "currency exchange". The South Korean Deputy Prime Minister pointed out that South Korea plans to amend the foreign exchange regulations in the first half of next year, requiring advance reporting of transaction purposes and details, with the goal of officially implementing it in the second half of the year.