South Korea’s central bank has introduced new reporting requirements that will require domestic crypto exchanges to disclose the monthly holdings of users who have previously transferred digital assets overseas.
Summary
- South Korean crypto exchanges will have to report the monthly holdings of users who have previously transferred digital assets overseas, starting December 2.
- The reporting requirement will apply even during months without overseas transfers, provided affected users continue to hold reportable assets.
- Exchanges must include dormant accounts, delisted cryptocurrencies and staked assets when calculating monthly balances for the Bank of Korea.
- The central bank…
