South Korea lowers crypto transfer reporting threshold

• South Korea plans to lower the reporting threshold for crypto transfers under its Travel Rule.
• The change would require more cryptocurrency transactions to be reported.
• The proposal aims to strengthen oversight of digital asset transfers.

South Korea plans to lower the reporting threshold for cryptocurrency transfers under its Travel Rule, increasing reporting requirements for more transactions.

The proposal would require additional crypto transfers to be reported under anti-money laundering rules.

Authorities said the change is intended to strengthen oversight of digital asset transfers and financial compliance.

The lower threshold would expand the number of transactions that crypto businesses must report under the Travel Rule framework.

The proposal is still under review, and the final threshold has not been confirmed.

South Korea has introduced stricter crypto regulations in recent years, including reporting and compliance requirements for digital asset businesses.

The proposal reflects broader efforts to increase monitoring of cryptocurrency transfers and financial crime risks.