South Korea discusses monitoring cross-border virtual asset transfers

The South Korean government is discussing how to monitor cross-border transfers of virtual assets and has emphasized the need for close cooperation among relevant agencies, including the Bank of Korea, Digital Asset reported. Heo Jang, Second Vice Minister of the Ministry of Economy and Finance, chaired a meeting of the Foreign Exchange Soundness Council and the MSCI Developed Markets Index Promotion Task Force today in Seoul. Attendees included representatives from the Ministry of Economy and Finance, the Bank of Korea, the Financial Services Commission, the Financial Supervisory Service, the Korea Exchange, and the Korea Securities Depository. The group reviewed the implementation of a comprehensive roadmap for foreign exchange and capital markets, announced in January, aimed at securing inclusion in the MSCI Developed Markets Index.