South Korea’s Financial Intelligence Unit Proposes Expanding the Virtual Asset Travel Rule to Small-Value Transactions

TechFlow News, June 22: According to Digital Asset, at the Financial Action Task Force (FATF) plenary meeting, South Korea’s Financial Intelligence Unit stated that, given the rising money laundering risks associated with cross-border digital asset transactions, member countries should expand the virtual asset “travel rule” from large-value transactions to small-value transactions, and apply it to both sending and receiving virtual asset service providers (VASPs). South Korea also proposed studying transaction restrictions on high-risk, unregistered VASPs, and emphasized the need for ongoing monitoring of emerging risks—including stablecoins and decentralized finance—and strengthening international regulatory cooperation and information sharing.