South Korea Plans to Regulate Cross-Border Crypto Transactions

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The finance ministry of South Korea has announced plans to implement regulations on the trading of virtual assets across borders, such as cryptocurrency.

These regulations, which will come into effect from the second half of 2025, will require businesses to register with authorities before conducting any cross-border transactions and report their activities to the Bank of Korea on a monthly basis.

This move comes as a response to the increasing number of foreign exchange-related crimes in the country, with a majority of them involving virtual assets.

These regulations will be implemented after completing the necessary legislative processes.