South Korea to Tighten Crypto Tracking on Transfers Under 1 Million Won — New Rules Imminent

South Korea is preparing to tighten oversight of cryptocurrency transfers below 1 million won, closing a gap that regulators say has increasingly been used to move illicit funds without triggering identity checks. The move would expand the country’s so-called travel rule, which currently applies mainly to larger transactions. The plan is being reviewed by financial authorities following the launch of a task force led by the Korea Financial Intelligence Unit (FIU) to revise the Act on Reporting and Using ...