According to ZDNet Korea, the Korea Financial Intelligence Unit (FIU) is temporarily not moving forward with the amendment to the "Specific Financial Information Act" that would require submitting suspicious transaction reports (STR) for transferring over 10 million Korean won (approximately $7,300) in virtual assets to overseas or personal wallets. Previously, the Korea Digital Asset Exchange Association (DAXA) had responded that this mandatory requirement could lead to excessive compliance burdens and trading delays. However, the FIU will still proceed with expanding the scope of the Travel Rule, extending the current threshold of transactions over 1 million Korean won to include transactions below 1 million Korean won (approximately $730).

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BlueMultisig
· 1h ago
Is the Travel Rule reduced to below 1 million? Small transfers also need to be reported, which is a bit annoying for daily use.
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GateUser-173efae5
· 3h ago
Is FIU just a slap on the wrist and a candy? Overall tightening or tightening?
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ReorgPanicButton
· 5h ago
DAXA feedback is effective, but don't celebrate too early; the expansion of the Travel Rule is the main event.
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AirdropCheck-InOfficer
· 7h ago
Temporarily not pushing forward = may push later, those familiar with regulatory language understand.
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GateUser-78aae297
· 7h ago
The $7,300 threshold removal is a positive development for high-volume players.
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BearMarketWithAHintOfOrange
· 7h ago
Korean regulators have finally taken advice; the removal of the 10 million threshold is a practical adjustment.
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BluePeonyCalmingAgent
· 7h ago
Low-value transactions are also included in the Travel Rule; South Korea is demanding transparency of on-chain data.
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GasInTheHourglass
· 7h ago
South Korea's crypto compliance costs are too high, putting immense pressure on exchanges.
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NftsOutsideTheTidalLine
· 7h ago
Let's wait for the final detailed rules; leaving two characters tentative is too much leeway.
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Rain-SoakedGlassLeverage
· 7h ago
Regulatory arbitrage opportunities are shrinking, and the Korean market is becoming more like traditional finance.
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