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South Korean Exchanges Oppose AML Plan for 10 Million Won Overseas Crypto Transfers
South Korea’s crypto industry opposed a proposed AML amendment that would classify overseas virtual asset transfers above 10 million won as suspicious transaction reports. DAXA said the rule could lift suspicious transaction reports at the top five exchanges from about 63,000 last year to more than 5.4 million. The FSC and FIU opened the proposal for public comment after proposing it on March 30, with final deliberation expected in July.