South Korea to regulate cross-border crypto trades by 2025
South Korean authorities are preparing to regulate cross-border digital asset transactions beginning in late 2025, according to an Oct. 25 report by Reuters.
The Ministry of Finance announced that the new regulations will require registration and reporting for businesses in Korea involved in cross-border crypto trades.
Under this framework, Korea-based companies facilitating digital asset transactions across borders must pre-register with regulatory bodies and submit monthly transaction reports to the Bank of Korea. This requirement enables South Korean authorities to monitor these transactions closely to prevent and address crypto-related illegal activities.
The proposed framework also aims to further define the country’s virtual…
