South Korea Removes 1 Million Won Threshold for Crypto Travel Rule
🇰🇷 South Korea has approved amendments to its crypto Travel Rule, requiring all transfers between registered domestic VASPs to include sender and recipient information regardless of transaction value.
🔎 The change is intended to prevent users from splitting large transfers into smaller transactions to avoid monitoring. The FIU cited a case involving the purchase of USDT followed by 216 withdrawals, each kept below the previous 1 million won threshold.
🏦 Exchanges will also face stricter compliance requirements, while transfers involving overseas platforms and personal wallets will be managed based on risk levels. Larger exchanges with existing Travel Rule infrastructure may be better positioned to adapt.
⏳ The expanded Travel Rule is expected to take effect around February 2027. The direct impact on crypto prices is likely limited, though compliance costs and transaction friction in South Korea could increase.
#CryptoRegulation $KR.US $KRG.US $KNC
🇰🇷 South Korea has approved amendments to its crypto Travel Rule, requiring all transfers between registered domestic VASPs to include sender and recipient information regardless of transaction value.
🔎 The change is intended to prevent users from splitting large transfers into smaller transactions to avoid monitoring. The FIU cited a case involving the purchase of USDT followed by 216 withdrawals, each kept below the previous 1 million won threshold.
🏦 Exchanges will also face stricter compliance requirements, while transfers involving overseas platforms and personal wallets will be managed based on risk levels. Larger exchanges with existing Travel Rule infrastructure may be better positioned to adapt.
⏳ The expanded Travel Rule is expected to take effect around February 2027. The direct impact on crypto prices is likely limited, though compliance costs and transaction friction in South Korea could increase.
#CryptoRegulation $KR.US $KRG.US $KNC