Wu Blockchain (@WuBlockchain): South Korea plans a major AML overhaul, expanding the Travel Rule to all crypto transfers, including those under 1 million KRW, to stop “smurfing” via…
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South Korea plans a major AML overhaul, expanding the Travel Rule to all crypto transfers, including those under 1 million KRW, to stop “smurfing” via small transactions. Regulators will also block high-risk overseas platforms, tighten financial requirements for local exchanges, and ban individuals with drug or tax-crime records from becoming major shareholders. The FIU will gain pre-freeze authority to stop illicit funds before they leave the system. https://t.co/BM5wnbAlMO