1. Reason for Amendment

The purpose is to reflect the amendments of the 「Act on the Reporting and Utilization of Specific Financial Transaction Information (hereinafter referred to as the "Specific Financial Information Act")」 (Act No. 21358) and its Enforcement Decree into the subordinate regulation to clearly prescribe the relevant contents, and to amend necessary matters such as other restructuring of articles.

2. Main Contents

A. Clarification of the Timing for Conducting Customer Due Diligence (Article 23-2 of the Draft) 

It clearly prescribes that when there is a concern of money laundering, enhanced customer due diligence must be conducted prior to financial transactions, etc.

B. Specificity of Reporting Matters for Virtual Asset Service Providers (Article 27 of the Draft) 

It specifically prescribes matters regarding the reporting requirements for virtual asset service providers, sound financial status and social credibility requirements which constitute grounds for non-acceptance of reporting upon failure to meet them, organization and personnel, computer equipment, and internal control systems.

C. Specificity of Anti-Money Laundering Obligations When Domestic Virtual Asset Service Providers Conduct Virtual Asset Transfer Transactions with Overseas Virtual Asset Service Providers (Article 28-2 of the Draft) 

It rules that when intending to conduct virtual asset transfer transactions with an overseas virtual asset service provider, the anti-money laundering system, etc., of the overseas virtual asset service provider must be evaluated. It specifies the scope of permitted transactions according to the risk level of the overseas virtual asset service provider.