PANews reported on March 7 that according to Yonhap News Agency, South Korea's financial authorities will speed up the drafting process of the second phase of the virtual asset bill, which will involve issues such as corporate supervision and token circulation disclosure. Kim Byung-hwan, chairman of the Financial Services Commission (FSC) of South Korea, said at a congressional meeting that with the recent actions of the Trump administration in the United States, the global cryptocurrency regulatory landscape is expected to change rapidly. He stressed that it is necessary for South Korea to keep up with these global developments.