Access Restricted for EU Residents
You are attempting to access a website operated by an entity not regulated in the EU. Products and services on this website do not comply with EU laws or ESMA investor-protection standards.
As an EU resident, you cannot proceed to the offshore website.
Please continue on the EU-regulated website to ensure full regulatory protection.
Friday Nov 28 2025 09:20
2 min
South Korea is gearing up for a more stringent approach to Anti-Money Laundering (AML) within the cryptocurrency space. The nation plans to broaden the scope of its "Travel Rule" to encompass crypto transactions valued at under 1 million won (approximately $680). This move is designed to close loopholes that allow users to circumvent identity reporting mandates by breaking up larger transfers into smaller, less conspicuous amounts.
Lee Eok-won, Chairman of the Financial Services Commission (FSC), announced these intentions during a session of the National Assembly’s Legislation and Judiciary Committee, as reported by Yonhap News. He emphasized the government's commitment to aggressively tackling money laundering activities that exploit the use of cryptocurrencies. The aim is to prevent the use of crypto for tax evasion, drug trafficking, and other illicit overseas payment schemes.
Authorities anticipate finalizing the new regulatory framework in the first half of 2026 and will submit the necessary legislative amendments to the National Assembly. Furthermore, they plan to enhance cooperation with international bodies like the Financial Action Task Force (FATF).
This announcement follows earlier initiatives in South Korea to combat tax evasion. On October 19th, an official from the National Tax Service (NTS) stated that the agency is prepared to conduct searches and confiscate cold wallets and hard drives if individuals are suspected of concealing crypto assets offline to avoid paying taxes. The NTS will analyze tax delinquency histories using crypto-tracking programs to identify and target potential cases of offline concealment.
Risk Warning: This article represents only the author’s views and is provided for informational purposes only. It does not constitute investment advice, investment research, or a recommendation to trade, nor does it represent the stance of the Markets.com platform. When considering shares, indices, forex (foreign exchange), and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and may not be suitable for all investors. Leveraged products can result in capital loss. Past performance is not indicative of future results. Before trading, ensure you fully understand the risks involved and consider your investment objectives and level of experience. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients.
Latest
View all
Friday, 8 May 2026
6 min
Tuesday, 12 May 2026
Indices
Record Inflows Pour into South African Markets Amid Reform Momentum: $42 Billion Foreign Investment Surge
Tuesday, 12 May 2026
Indices
Gold Price Today, May 13: Gold Plunges Below $4,700 as Hot US CPI & Surging Oil Crush Rate-Cut Hopes
Monday, 11 May 2026
Indices
Latest ETF News Highlights: BTC Price (BTC/USD) Holds at $81,500 Amid Strong Bitcoin ETF Inflows
Monday, 11 May 2026
Indices
Gold Price Today, May 12: XAU/USD Rises Sharply After Fed Cut Live Gold Price at $4,750
Sunday, 10 May 2026
Indices
Stock Market Today: Nifty Slips Below 24,200, Sensex Drops to 77,328 as Oil Crosses $100
Sunday, 10 May 2026
Indices
Gold Price Today, May 11: Gold (XAUUSD) Trading at $4,695, Central Banks Keep Buying as Investors Seek Shelter
Friday, 8 May 2026
Indices
India's Tech Boom: India’s Offshore Tech Hubs Near 2030 Milestone in FY26
Friday, 8 May 2026
Indices
Gold Price Today, May 09: Gold (XAUUSD) at $4,720 Faces Correction Risk After 250% Rally as Oil Leads Markets
EN
