South Korea has announced that it will be removing the 1 million won threshold for the Travel Rule, applying information-sharing requirements to all crypto transfers between registered service providers.
This change means that all transfers, regardless of size, will be subject to the same information-sharing requirements, according to reporting from CoinTelegraph.
The Travel Rule is a set of regulations aimed at combating money laundering and terrorist financing by requiring the sharing of information between financial institutions and crypto service providers.