According to Yonhap News Agency, South Korean financial authorities will accelerate the drafting process of the second phase of the virtual assets bill, which will address issues such as corporate regulation and disclosure of token circulation. Kim Byung-hwan, chairperson of South Korea's Financial Services Commission (FSC), told the National Assembly that the global cryptocurrency regulatory landscape is expected to change rapidly with the Trump administration's recent actions in the United States. He stressed the need for South Korea to keep pace with these global developments.