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<p>🇰🇷 South Korea is stepping up crypto reporting requirements from Dec 3.

Domestic VASPs must report each cross-border crypto transfer by 11 AM the next business day and submit monthly user balance reports, covering dormant accounts, delisted tokens, and staked assets.

The proposed retrospective scope covers 1.27M users across the country’s five largest exchanges, though the central bank is considering a later start date. Data will be shared with tax, customs, and financial regulators.

Direct transfers between personal wallets are excluded.

#Web3 #Crypto #SouthKorea #CryptoRegulation</p>

🇰🇷 South Korea is stepping up crypto reporting requirements from Dec 3.
Domestic VASPs must report each cross-border crypto transfer by 11 AM the next business day and submit monthly user balance reports, covering dormant accounts, delisted tokens, and staked assets.
The proposed retrospective scope covers 1.27M users across the country’s five largest exchanges, though the central bank is considering a later start date. Data will be shared with tax, customs, and financial regulators.
Direct tr

🇰🇷 South Korea is stepping up crypto reporting requirements from Dec 3. Domestic VASPs must report each cross-border crypto transfer by 11 AM the next business day and submit monthly user balance reports, covering dormant accounts, delisted tokens, and staked assets. The proposed retrospective scope covers 1.27M users across the country’s five largest exchanges, though the central bank is considering a later start date. Data will be shared with tax, customs, and financial regulators. Direct transfers between personal wallets are excluded. #Web3 #Crypto #SouthKorea #CryptoRegulation

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