According to Edaily, South Korea's FIU plans to tighten cryptocurrency regulations by introducing mandatory reporting for overseas crypto transactions exceeding 10 million KRW (approximately $7,200) and strengthening KYC information verification as well as the scope of the Travel Rule. The FIU is expected to hold its first meeting today (May 19) with the CEOs of South Korea's top five crypto exchanges—Upbit, Bithumb, Coinone, Korbit, and GOPAX—along with DAXA. Some industry experts in South Korea have warned that implementing 'full reporting' for large transactions could constitute overregulation, potentially driving users and funds to overseas platforms. They suggest regulators should focus more on abnormal transaction patterns rather than a single monetary threshold. https://(wublock123.com)/news/korea-fiu-summons-top-exchanges-over-krw10m-crypto-trade-rules-61298