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The Korean bill on foreign exchange rules for cryptocurrency exchanges has been approved by the key committee.
Golden Finance reports that on May 6th, the South Korean “Foreign Exchange Transactions Act” amendment was passed by the full session of the National Assembly’s Legislation and Judiciary Committee.
The amendment will expand the scope of foreign exchange transaction regulation to include virtual asset service providers, including cryptocurrency exchanges.
The committee approved the bill at today’s full session and adopted revisions from the specialist members. The bill has now been submitted to the full National Assembly for a final vote, which could be held as early as May 7th.