Amendments to South Korea's Special Finance Law

According to news1, on March 4, the Rule of Law Judicial Committee of the Korean Parliament passed the "Report and Utilization of Information on Certain Financial Transactions (Special Financial Law)" amendment. There are currently only voting procedures in the Plenary of Congress. However, if the bill is passed in the plenary session of Congress this afternoon (March 5), it is expected to be implemented one year later (that is, March 2021). On the other hand, it is expected that the Korean Financial Services Commission will actively develop guidelines for cryptocurrency trading businesses based on the amendment.