The five major exchanges in South Korea are expected to apply travel rules to cryptocurrency asset transfers below 1 million Korean won

Odaily Star Daily News: The five major cryptocurrency exchanges in South Korea are expected to introduce travel rules for transferring cryptocurrency assets below 1 million Korean won. Previously, exchanges were required to apply travel rules when converting cryptocurrency transfers of over 1 million Korean won into Korean won, but they are now expanding this rule to transactions below 1 million Korean won and increasing transparency. According to industry insiders, Coinone and Korbit are studying a plan to ban the sending of cryptocurrency assets worth less than 1 million Korean won to unconfirmed accounts/wallets. Coinone and Korbit officials responded that they are currently undergoing internal review. Following Upbit, Bithumb has recently implemented travel rules for cryptocurrency asset transfers below 1 million Korean won, and other large local exchanges are expected to join in as well. （Newsis）