2025-12-29 11:05:39

South Korean financial authorities are strengthening the anti-money laundering regulatory framework for virtual assets. According to the latest news, the Financial Intelligence Unit (FIU) of South Korea plans to significantly expand the scope of the Travel Rule—from currently covering transactions over 1 million Korean won to full coverage of small transactions.

This set of regulations, known in the industry as the "Real-Name System in the Crypto Space," essentially requires virtual asset service providers to provide complete identity information of transaction parties when transferring funds. The FIU has already initiated a working group for the amendment of the Act on Reporting and Using Specific Financial Transaction Information, and the first meeting has been held. The next steps include: refining the regulatory system for VASPs (Virtual Asset Service Providers) and establishing clear AML standards for emerging business models such as stablecoins.

This expansion of regulatory scope means that every virtual asset transaction in the Korean market will be subject to stricter scrutiny in the future. Exchanges and users should prepare in advance.

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DegenTherapist

· 4h ago

Here we go again, Korea is really trying to put crypto players in a dead end. Full coverage of real-name registration is truly extreme. Expanding the Travel Rule to small transactions? Then how can I do Schrödinger's transfers... When can we also relax? Anti-money laundering, anti-money laundering, this old routine is really annoying. Exchanges are going to be overwhelmed now, compliance costs are going to skyrocket again. It's outrageous, they’re even targeting transactions below 1 million. Is there any privacy left, everyone?

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governance_ghost

· 4h ago

South Korea is aiming to fully bring transparency to the crypto industry, not even small transactions are spared. It feels like trading will become very complicated in the future. The Travel Rule is everywhere; sooner or later, the whole world will follow suit. The privacy dream of the crypto world should wake up. With anti-money laundering measures and real-name systems, it feels like regulatory oversight is getting more and more extensive... Now P2P transactions need to be very cautious; even a slight oversight of identity information can be recorded. South Korea's actions are so quick, while other countries are still exploring. Let's wait and see how the follow-up is implemented.

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BearMarketNoodler

· 4h ago

Korea is causing trouble again, implementing full coverage Travel Rule. In simple terms, it's turning on-chain transactions into the traditional banking system, sacrificing privacy but achieving compliance.

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bridgeOops

· 4h ago

South Korea is tightening up again. Really, even small transactions require real-name verification? This completely eliminates on-chain privacy. The Travel Rule is fully implemented... it sounds like everyone is considered a suspect, which is a bit excessive. Stablecoins also need AML standards? What are they afraid of? It's been obvious for a while that regulations would eventually go this way. Luckily, some exchanges moved out early. Real-name verification, in simple terms, is just to prevent money from escaping. Life is really tough for Korean exchanges. I guess users will migrate en masse. Even small transactions now require identity checks... how can peer-to-peer transfers still work? If this bill passes, Korea's crypto scene will undergo a reshuffle. It feels like we're getting closer to a major regulatory era. The ones who adapt first will survive longer.

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