South Korea plans to revise CARF regulations, requiring cryptocurrency exchanges to keep external wallet addresses for 6 years

The revision of CARF related regulations by the South Korean Ministry of Finance and Economic Affairs proposes to require South Korean cryptocurrency service providers to keep external personal wallets and overseas wallet addresses involved in transactions for 6 years, and to include single cryptocurrency payment transactions of more than $50000 in the declaration scope. The relevant adjustments are aimed at cooperating with the OECD Cryptocurrency Reporting Framework and will be implemented on January 1, 2027. (Source: Edaily)