South Korea To Regulate Cross-Border Cryptocurrency Transactions From 2025

According to PANews, South Korea's Ministry of Finance announced plans to regulate cross-border transactions involving cryptocurrencies and other virtual assets starting in the second half of 2025. The new regulations will introduce registration and reporting requirements for businesses handling these transactions. Companies will be required to register with authorities in advance and report transaction details to the Bank of Korea on a monthly basis. This move aims to enhance oversight and control over virtual asset transactions, which have been linked to significant foreign exchange-related crimes in the country. Data from South Korea Customs indicates that since 2020, the country has experienced foreign exchange crimes totaling 11 trillion won (approximately $7.97 billion), with 81.3% of these crimes involving virtual assets.