The new South Korean bill aims to strengthen the background checks on virtual asset operators

According to ChainCatcher, as reported by Decenter, member of the Korean National Assembly's Political Affairs Committee, Yoon Chang-hyun (phonetic), has initiated an amendment to the Specific Financial Information Act, which stipulates that when reviewing the declarations of virtual asset operators, not only the representatives and registered senior executives must be examined, but also the criminal records of major shareholders. Major shareholders who have been convicted must relinquish their shares or their status as virtual asset operators.