South Korea plans to expand the scope of its Travel Rule, potentially covering small transactions.

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According to News1, South Korean financial authorities plan to expand the scope of the Travel Rule, known as the "crypto real-name system," from transactions exceeding 1 million won to cover smaller transactions, in order to strengthen anti-money laundering regulations for virtual assets. The Financial Intelligence Service (FIU) held its first TF meeting on the revision of the Special Financial Act, planning to simultaneously refine the VASP (Virtual Asset Sponsored Transaction System) regulatory framework and formulate AML (Anti-Money Laundering) measures to support industry developments such as the institutionalization of stablecoins.

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