South Korea approves revised amendments to the “Specific Financial Information Act,” tightening regulation of crypto exchanges. The direct trigger is that the existing Travel Rule only applies to transfers above 1 million won (about USD 700). Criminals split 200 million won into 216 small withdrawals to evade tracking, repeatedly exploiting money-laundering loopholes. To address this, the South Korean State Council passed an amendment: the Travel Rule will fully remove the transaction threshold, covering all transfers; overseas exchanges and individual wallets will be subject to risk-tiered, differentiated oversight; and at the same time, major shareholders of exchanges will be scrutinized, with requirements that their debt-to-liability ratio must not exceed 200%.
In the short term 📉, the buffer period of only six months is extremely brief. Retail accounts conducting high-frequency cross-transfers and with complex sources of funds will be重点 flagged. Liquidity for BTC and ETH will tighten, and market sentiment will come under pressure. The February Bithumb “mis-send” incident involving a 440,000 USD-class BTC error further confirms regulators’ determination to plug internal-control weaknesses.
In the long term 📈, the crackdown will “clear out unlicensed street vendors” and bring crypto assets into the country’s national asset framework. In essence, it is about putting the market into a compliant cage. As the “Basic Act on Digital Assets” is advanced, institutional capital may return to compliant platforms. In a transparent framework, the medium- to long-term value of major assets such as USDT should actually be strengthened. Strict regulation isn’t meant to scare people away—it’s to pave the way for the next round of institutional entry. #韩国批准修法收紧加密交易所监管 $SOL $BTC $ETH
In the short term 📉, the buffer period of only six months is extremely brief. Retail accounts conducting high-frequency cross-transfers and with complex sources of funds will be重点 flagged. Liquidity for BTC and ETH will tighten, and market sentiment will come under pressure. The February Bithumb “mis-send” incident involving a 440,000 USD-class BTC error further confirms regulators’ determination to plug internal-control weaknesses.
In the long term 📈, the crackdown will “clear out unlicensed street vendors” and bring crypto assets into the country’s national asset framework. In essence, it is about putting the market into a compliant cage. As the “Basic Act on Digital Assets” is advanced, institutional capital may return to compliant platforms. In a transparent framework, the medium- to long-term value of major assets such as USDT should actually be strengthened. Strict regulation isn’t meant to scare people away—it’s to pave the way for the next round of institutional entry. #韩国批准修法收紧加密交易所监管 $SOL $BTC $ETH