[South Korean National Assembly Passes Amendment to Strengthen Cross-Border Regulation of Crypto Assets] According to The Block, the South Korean National Assembly has passed an amendment to the Foreign Exchange Transactions Act, requiring businesses engaged in cross-border crypto asset transfers to register with the Minister of Strategy and Finance. The amendment introduces a new definition for 'virtual asset transfer business,' which includes cryptocurrency exchanges and digital asset custody companies. The Financial Services Commission of South Korea plans to extend the Travel Rule to all crypto transactions and intends to impose a 22% tax on crypto asset gains exceeding 2.5 million Korean won starting January 2027.