Bollcoin, October 23: According to Digital Asset, the South Korean government and the Bank of Korea (BOK) plan to push for an amendment to the Foreign Exchange Transactions Act this year, aimed at regulating stablecoins, including their use as a means of payment. In a business status report submitted to the National Assembly audit, the BOK said it is consulting with the government on measures related to "how to regulate cross-border transactions involving virtual assets (digital assets)." The BOK added that it is preparing to establish a virtual asset monitoring system, including reporting through the foreign exchange data network, and plans to work with the government to draft an amendment to the Foreign Exchange Transactions Act this year to regulate stablecoins as a means of payment and related instruments. The move responds to requests made during last year's National Assembly audit, when the Assembly urged the BOK to "globalize the payment infrastructure and establish a regulatory framework for virtual assets."