The National Policy Committee is set to review a bill on November 27th that could significantly impact Virtual Asset Service Providers (VASPs). This proposed legislation grants financial authorities the power to reject VASP applications if a major shareholder, whether domestically or internationally, has a criminal record. This bill defines "major shareholders" as the largest shareholder and other significant shareholders, mandating the reporting of information related to these individuals during business registration. Critically, the scope of criminal record checks will extend to these major shareholders. If passed, this bill will likely trigger a re-evaluation of existing VASPs to assess the eligibility of their major shareholders. Future VASP applications will also face stricter scrutiny. This move aims to bolster regulatory oversight and protect investors within the rapidly evolving virtual asset landscape. The changes reflect a growing global trend of increased regulation in the cryptocurrency sector. ```