South Korea Proposes Stricter Crypto Transfer Regulations

South Korea's Financial Intelligence Unit is set to implement more stringent rules on cryptocurrency transfers. According to NS3.AI, the new regulations will mandate reports on suspicious transactions for low-risk transfers exceeding 10 million won, particularly involving private wallets and overseas exchanges. These low-risk transfers will only be permitted if the sender and receiver are verified as the same individual. Additionally, high-risk transactions will face further restrictions.