Korea's FIU may abandon mandatory STR reporting requirements for large virtual asset transfers, while Travel Rule expansion plans will continue.
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ChainCatcher reports that the Korea Financial Intelligence Unit (FIU) plans to no longer pursue mandatory Suspicious Transaction Report (STR) requirements for large-scale virtual asset cross-border transfers and individual wallet transfers, but will continue to expand the regulatory coverage of the Travel Rule, further strengthening the tracking of digital asset transactions.
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