South Korea Pushes to Expand Crypto Travel Rule to All Transactions, No Minimum

South Korea's financial intelligence unit wants to scrap the $700 reporting threshold for crypto transfers, requiring exchanges to collect sender/receiver info on all transactions. The proposal aims to close a loophole used to split large transfers into smaller ones.

• South Korea's FIU proposed eliminating the 1 million won ($700) threshold for Travel Rule reporting at the FATF plenary in Paris
• Currently, exchanges only collect sender/receiver info on transfers above $700. Users can split larger transfers into smaller ones to avoid scrutiny.
• The move would bring South Korea closer to full transaction-level monitoring for all crypto transfers
• South Korean officials also urged FATF members to tighten oversight of unregistered overseas crypto platforms
• The proposal follows the Virtual Asset User Protection Act and a confirmed 22% crypto tax starting in 2027

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