According to CoinMeta, the South Korean Regulatory Rationalization Committee has proposed amendments to the Enforcement Order of the "Specific Financial Transaction Information Act" to exclude minor violations from the restrictions on the qualifications of major shareholders. Since June 2024, South Korea has not approved any new VASP registration applications. The change in the major shareholder review criteria affects exchanges' acquisitions, new companies' entry into the industry, and industry consolidation. The current law does not explicitly grant the authority to set exceptional provisions in enforcement orders, and making adjustments through administrative orders faces disputes over insufficient legal basis.