South Korea Tightens Crypto AML Rules: Sub-$680 Transfers Face New Scrutiny

South Korea has intensified its fight against money laundering in the cryptocurrency space, targeting smaller transactions below $680 effective immediately. The Financial Intelligence Unit (FIU) and Financial Services Commission are enforcing new regulations to reduce money laundering risks. This move could lead to increased costs for exchanges, potentially impacting smaller platforms while attracting institutional investors seeking greater transparency and compliance.