Crypto firms would have to submit "change reports" to KoFIU and secure its approval to replace or appoint a new representative or executive officer.
Han Chang-joon faces fraud charges in Korea over the collapse of the Terra/Luna crypto ecosystem in May 2022.
High-risk equity-linked securities were sold to customers who prioritised principal protection, were close to retirement, and those planning for future cancer treatments.
The amendment would make it easier for victims of account coercion scams to lift account suspensions more quickly.
The revisions will make the existing rules simpler and less prescriptive, allowing financial firms more room to make decisions autonomously.
Banking Act amendments will make it easier for regional banks to convert into nationwide commercial banks, to promote competition in the banking industry.
Taiwan travelers with electronic wallets linked to any of 13 financial institutions can pay South Korean merchants by scanning their TWQR code.
Listed companies will no longer be allowed to receive allocations of treasury shares from corporate spin-offs.
The amendments allow jail and fines for arrangements, inducements, recommendations, or advertising that leads to insurance fraud.
Whistleblower reports can also be filed anonymously, to better protect reporters of unfair transactions and market misconduct.
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