The South Korean Minister of Strategy and Finance has met with the governor of the People’s Bank of China to discuss and share economic policies including cryptocurrency countermeasures. While China has imposed strict regulations on cryptocurrency trading, including closing down domestic crypto exchanges, South Korea has adopted a less strict approach with successively releasing countermeasures for cryptocurrencies. However, closing down crypto exchanges has been avoided so far. At the National Assembly Planning and Finance Committee meeting on Wednesday, Kim pointed out that there may be a problem of underground transactions and foreign currency leakage if exchanges are closed. Cryptocurrency exchanges are not financial entities in Korea; they fall under the e-commerce law. In contrast, Kim noted that, in Japan, they are managed by registration with the country’s financial authority. South Korea re-iterated that Cryptocurrency exchanges are not financial entities in Korea; they fall under the e-commerce law. In contrast, Kim noted that, in Japan, they are managed by registration with the country’s financial authority.