South Korea
Odaily
South Korea Plans to Require Reporting of Crypto Payments Over $50,000; Exchanges Must Retain External Wallet Addresses for 6 Years
- Cryptocurrency payments or settlements of $50,000 or more would be subject to mandatory reporting under the planned rules.
- Domestic crypto exchanges would be required to retain records of external (outside wallet) addresses associated with user transactions for a period of 6 years.
- The measures signal South Korea's continued push to strengthen anti-money-laundering oversight and transaction traceability within its virtual asset sector.