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whew, South Korea really said “no chill” to crypto with these new rules, 📉 but will this crackdown kill innovation or make the
increased regulatory oversight in South Korea signals a shift towards a more transparent trading environment: the expansion of the Travel rule to cover all virtual asset transactions aims
South Korea is enhancing crypto regulations, expanding the Travel rule to cover all virtual asset transactions, regardless of amount. This move aims to increase trust and security in the volatile crypto market. Crypto exchanges must now share transaction parties’ information to combat illicit activities like fund splitting. The country is cracking down on offshore exchanges to prevent money laundering, signaling a shift towards a more transparent trading environment. As regulations tighten, compliance costs and operational challenges threaten innovation and market stability.
South Korea Steps Up Cryptocurrency Oversight With Sweeping Regulations
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