The government is set to establish a management and supervision system for overseas remittances and fund movements using virtual assets (cryptocurrencies). According to Herald Economy, the Ministry of Economy and Finance announced on the 26th that it had approved the 'Enforcement Decree of the Foreign Exchange Transactions Act Amendment' at a cabinet meeting. The amendment passed the National Assembly plenary session on the 7th and is scheduled to take effect six months after its promulgation on the 2nd of next month. Accordingly, businesses engaged in sending virtual assets abroad or bringing them into the country must pre-register with the Minister of Economy and Finance.
