In accordance with Bitcoin.com, South Korea's Financial Services Commission (FSC) announced plans to expand the travel rule to cover smaller cryptocurrency transactions and bar individuals with serious criminal records from becoming major shareholders in virtual asset businesses. The move aims to prevent money laundering and criminal exploitation of the crypto market. Currently, the travel rule applies to transactions over 1 million won ($730), but the FSC intends to lower the threshold to stop criminals from splitting large transactions. A new 'preemptive account freeze system' will also be introduced to suspend accounts linked to serious crimes such as drug offenses and gambling. The reforms are expected to be finalized in early 2026, with a revision to the Specific Financial Information Act submitted to the National Assembly.
South Korea Expands Travel Rule to Smaller Crypto Transactions, Bans Criminals from Crypto Business Ownership
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