South Korea has moved closer to introducing mandatory registration and foreign exchange reporting for cryptocurrency transfers, with new rules scheduled to take effect on December 3, 2026.
Summary
- South Korea’s amended foreign exchange law takes effect December 3, introducing registration for cross-border crypto transfer businesses.
- The proposed rules cover transfers between cryptocurrency exchanges and private wallets, with reporting to the Bank of Korea.
- Officials have not confirmed that USDT and USDC will become formally recognized payment instruments under this amendment.
- Crypto businesses must prepare reporting systems and qualified staff, with public comments on the…
