[South Korea Tightens Crypto Regulations: Crypto 'Travel Rule' Extended to Transactions Below 1 Million KRW] Odaily Planet Daily News – South Korea's Financial Services Commission Chairman, Lee Bok-hyun, stated at the '19th Anti-Money Laundering Day' event hosted by the Financial Intelligence Unit on the 28th that South Korea will further strengthen anti-money laundering regulations for cryptocurrencies. He noted that the scope of the 'Travel Rule,' often referred to as the 'real-name system for cryptocurrencies,' will be expanded to include small transfers below 1 million KRW (approximately $680) to address existing regulatory blind spots. Lee Bok-hyun emphasized that regulatory authorities will strictly crack down on money laundering activities involving virtual assets and prohibit virtual asset transactions with overseas exchanges that pose high money laundering risks. Additionally, South Korea will establish a more stringent review system to conduct comprehensive examinations of the criminal records, financial status, and social credit of virtual asset business operators and their major shareholders, thereby raising the industry's entry threshold. (Yonhap News Agency)