[South Korea Plans to Allow Exchanges and Fintech Companies to Participate in the Virtual Asset Overseas Remittance System] According to South Korean media SBS Biz, South Korea is considering allowing various parties, including exchanges and fintech companies, to participate in the soon-to-be-launched virtual asset overseas remittance business system. The system is expected to be implemented in December this year. Relevant sources revealed that the government has recently begun drafting implementation details for partial amendments to the Foreign Exchange Transactions Act and is reviewing registration requirements for virtual asset transfer businesses. The core content of the amendment is to incorporate cross-border virtual asset transfers into the regulatory framework of the Foreign Exchange Transactions Act, defining it as a "virtual asset transfer business." Companies intending to engage in virtual asset transfer businesses must register with the Office of the Minister of Economy and Finance of South Korea and report relevant information through the Bank of Korea's foreign exchange computer network when cross-border transfer transactions occur.