South Korea or through legal amendments, requiring the virtual asset exchange to register with the regulatory authorities

According to CoinDesk, the South Korean National Assembly's Parliamentary Amendment Subcommittee today passed a legal amendment to the Special Financial Transaction Information Act to force the Virtual Assets Exchange to register with the Financial Services Commission (FSC). According to CoinDesk Korea, those who engage in virtual asset trading without registration will face up to five years in prison or a fine of up to 50 million won ($42,460). The report said that the South Korean parliament is likely to pass the bill.