South Korea has amended its Foreign Exchange Transactions Act to regulate cross-border cryptocurrency transfers. The new law mandates that businesses facilitating international transfers of virtual assets, including stablecoins, must register with the Ministry of Finance and Economy. This move aims to enhance financial oversight and prevent illicit activities such as money laundering. The amendment introduces a legal definition for "virtual asset transfer business," requiring entities involved in cross-border digital asset transactions to comply with new registration requirements. This regulatory change aligns South Korea with global trends towards stricter oversight of digital asset flows, potentially impacting processing times and compliance costs for businesses. However, it also promises a more stable regulatory environment for legitimate operators.