Regulation· ★★★★· bearish·

Bank of Korea to Track Cross-Border Crypto Transfers of 1.27 Million Users From December

  • —Daily transfer logs are due by 11 a.m. the next business day
  • —Monthly FX1021 form covers month-end holdings and inflow/outflow totals
  • —Reporting pool reaches back to July 19, 2024 and spans 1,272,878 users
  • —Data will be shared with tax, customs, FSS and financial intelligence units
Why it matters: South Korea is layering foreign-exchange surveillance on top of its AML regime, potentially curbing cross-border crypto activity and retail participation.
Source: BlockchainReporter
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