South Korean FIU to hold further talks with crypto industry on new rules

The Financial Intelligence Unit (FIU) under South Korea's Financial Services Commission is set to hold additional discussions with major domestic cryptocurrency exchanges this month regarding proposed amendments to the enforcement decree of the Act on Reporting and Using Specified Financial Transaction Information. The proposed changes, which include a mandate to report all transactions exceeding 10 million won to the FIU, are being reviewed to more broadly incorporate industry feedback after concerns were raised about the potential burden on operators. An FIU official told Dailian that the agency plans to meet with the industry again this month for further discussions, adding that while the specific direction for adjustments has not yet been decided, various options are being considered.