South Korea has eliminated the 1 million won threshold for its Travel Rule, now requiring information sharing for all transfers between registered cryptocurrency service providers. This move broadens the scope of compliance, ensuring that all transactions, regardless of size, are subject to regulatory oversight, according to CoinTelegraph.
The previous rule only applied to transfers exceeding 1 million won, but the updated regulation removes this limit to enhance transparency and combat illicit activities within the crypto ecosystem. This change reflects South Korea's ongoing commitment to tightening crypto regulations.
For Japanese investors and market participants, this development signals increasing regulatory rigor in Asia's crypto markets, which could influence cross-border crypto transactions and compliance practices within the region.