The Korea Financial Commission announced that if the Korean virtual currency exchange fails to comply with the FATF virtual currency regulatory guidelines, the business license is cancelled.

Today (June 23), according to the analysis of the Financial Analysis Institute (FIU) of the Korea Financial Commission, virtual currency transactions are subject to the FATF cryptocurrency regulatory guidelines. If it fails to comply, the business license will be cancelled; and the bill is being retained in Congress and is scheduled to begin in the second half of next year.