FIU listened but didn't fully heed the advice: STR is not mandatory, but under the Travel Rule, it drops to $730, effectively nullifying the anonymity of Korean crypto payments.

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).