South Korea
Block Media
"Reported balances just for sending coins overseas once?"... Investors and legal circles raise 'privacy infringement' concerns
- The Bank of Korea plans to require monthly reports on the personal information and domestic balance of users who have made overseas virtual asset transfers.
- The reporting framework is based on the Bank of Korea's 'Handbook on Foreign Exchange Computer Network Reporting for Virtual Asset Transfer Businesses.'
- Investors and legal experts argue the data collection scope is excessive and lacks adequate legal grounding, despite the stated aim of curbing illegal foreign exchange transactions.