Crypto
Eyes on amended AML enforcement decree as industry fears burden from digital asset rules
South Korea\'s digital asset industry is watching proposed amendments to enforcement and supervisory rules under the Special Financial Information Act set to take effect in August. The draft strengthens screening requirements for reporting by digital asset service providers and expands anti-money laundering duties for transfers. It would extend the travel rule to transfers under 1 million won and require additional steps for receiving providers. It also sets reporting duties for certain overseas transfers and tightens customer verification and entry reviews.