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Korea’s Ministry of Finance and Economy proposes FX decree rules to register and monitor cross-border virtual asset transfers from 3 December 2026
South Korea’s Ministry of Finance and Economy (MOFE) said on 6 October 2026 that it would put out for public comment a proposed amendment to the Enforcement Decree of the Foreign Exchange Transactions Act implementing the 2 June 2026 amendment to the Act on monitoring cross-border virtual asset transfers. The decree defines a new virtual asset transfer business covering transfers between domestic and overseas virtual asset service providers and between domestic providers and personal wallets, sets registration requirements, and requires these providers to report transfer information to the Bank of Korea’s FX Information System, shared with the National Tax Service, Korea Customs Service, Financial Supervisory Service and Financial Intelligence Unit. Public comments ran from October 7 to October 26, 2026, and the amendments are to be implemented in line with the amended Act’s effective date of December 3, 2026.
Ministry of Finance and Economy (Korea)