Odaily News South Korea's five largest cryptocurrency exchanges are expected to introduce the Travel Rule for crypto asset transfers below 1 million won. Previously, exchanges were required to apply the Travel Rule to crypto asset transfers above 1 million won when converting to won, but are expanding the rule to transactions below 1 million won and improving transparency.
According to industry insiders, Coinone and Korbit are studying a plan to prohibit sending crypto assets below 1 million won to unconfirmed accounts/wallets. Coinone and Korbit officials responded that they are "currently conducting an internal review."
Following Upbit, Bithumb recently introduced a travel rule for crypto asset transfers below 1 million won, and other large local exchanges are expected to join in. (Newsis)