The South Korean government plans to establish a monitoring system for virtual asset transactions in the second half of 2025 in order to ensure safe and appropriate trading.
According to Business Korea, Deputy Prime Minister and Finance Minister Choi Sang-mok emphasized the need for this system during his visit to the G20 Finance Ministers’ Meeting, citing an increase in illicit activities involving digital assets, such as tax evasion and money laundering linked to drugs and gambling.
The government’s response includes a requirement for mandatory reporting of cross-border stablecoin transactions, with businesses engaged in such trading being required to register with authorities and submit monthly transaction reports to the Bank of Korea, as stated by the Ministry of Finance.