South Korea’s Financial Intelligence Unit (FIU) has pressed for tighter global reporting standards for cryptocurrency transfers, urging a broader application of the FATF “Travel Rule” to reduce gaps in cross-border anti-money laundering (AML) controls. The push reflects concerns that current implementation leaves smaller transactions and counterparties outside meaningful compliance coverage.

During a FATF plenary session in Paris last week, the FIU proposed expanding the Travel Rule obligations to smaller crypto transfers and called for more comprehensive coverage across both originating and receiving crypto asset service providers (CASPs). The FIU also highlighted the continuing policy divergence that can enable regulatory…