South Korea will tighten transfers between domestic crypto platforms and overseas exchanges or self-hosted wallets under anti-money laundering rules approved by the Cabinet on Aug. 11.
Summary
- South Korea approved new risk-based controls for transfers to overseas exchanges and self-hosted wallets Tuesday.
- Transfers worth 10 million won or more require exchanges to operate internal suspicious-transaction monitoring systems.
- Low-risk overseas exchanges remain permitted, while high-risk counterparties can be barred from such transfers altogether.
- Travel Rule data will cover every transfer between registered Korean VASPs after the threshold disappears.
- Google requires…
