According to CoinMeta, on July 28th, 15 individuals including Kim Sang-hoon, a member of the Korean People Power Party, proposed an amendment to the "Specific Financial Information Act" that allows financial authorities to request the suspension of payments from virtual asset accounts suspected of involving illegal asset transfers. The amendment defines an account as the unique identification number provided by exchanges to users. In cases where an account is deemed suspicious, the Financial Intelligence Analysis Unit (FIU) may order a 30-day suspension of payments, which can be extended once. Those who fail to comply may face a fine of up to 100 million Korean won. The bill will come into effect six months after its publication.