According to a report by ZDNet Korea, the Financial Intelligence Unit (FIU) of South Korea has tentatively decided not to proceed with the provision in the amendment to the "Specific Financial Information Act" that requires filing a Suspicious Transaction Report (STR) for virtual asset transfers exceeding 10 million KRW (approximately $7,300) to overseas or personal wallets. Previously, the Korea Digital Asset Exchange Association (DAXA) had expressed concerns that this mandatory requirement could lead to excessive compliance burdens and transaction delays. However, the FIU still plans to expand the scope of the Travel Rule as scheduled, extending it from transactions over 1 million KRW to include transactions below 1 million KRW (approximately $730). https://(wublock123.com)/news/south-korea-fiu-proposes-virtual-asset-transfer-rules-str-may-not-proceed-61912