South Korea Tightens AML Regulations: Targeting Crypto Money Laundering

South Korea’s fight against cryptocurrency-related money laundering has intensified with the implementation of new anti-money laundering (AML) regulations. The government is specifically targeting smaller transactions, aiming to close loopholes exploited by criminals. These measures will extend the Travel Rule to transactions under $680, requiring exchanges to identify both sender and receiver for each transaction. This action aims to prevent users from splitting transfers to evade reporting requirements.