South Korea to monitor cross-border trades with crypto
South Korean authorities will impose regulations on cross-border crypto transactions, requiring businesses to register and report from mid-2025.
South Korea plans to implement regulations governing cross-border transactions of virtual assets, including cryptocurrencies, with new registration and reporting requirements set to take effect in the second half of 2025, Reuters reports, citing South Korea’s Ministry of Economy and Finance.
Under the forthcoming regulations, businesses engaged in cross-border crypto trading will be mandated to register with the authorities prior to conducting operations, the press release reads. They will also be required to report their monthly transaction details to the Bank of Korea,…
