PANews reported on October 25 that according to Jinshi, the South Korean Ministry of Finance said that South Korea plans to regulate cross-border transactions of virtual assets such as cryptocurrencies from the second half of 2025, introducing registration and reporting requirements. The Ministry of Finance said that under the new regulations, companies handling cross-border transactions of virtual assets will be required to register with the authorities in advance and report transactions to the Bank of Korea on a monthly basis. According to data from the Korean Customs, since 2020, South Korea has committed foreign exchange-related crimes worth 11 trillion won (7.97 billion U.S. dollars), of which 81.3% involved virtual assets.