South Korea drops Travel Rule threshold for crypto transfers
60-second summary
South Korea is dropping its 1 million won Travel Rule threshold for crypto transfers, effectively applying information-sharing requirements to all transactions between registered crypto service providers. This change will mandate the sharing of customer information for all transfers, regardless of amount, to enhance anti-money laundering efforts and increase regulatory oversight in the industry.
South Korea will remove its 1 million won Travel Rule threshold and apply information-sharing requirements to all transfers between registered crypto service providers.