According to Digitalasset, South Korea's Financial Intelligence Unit (FIU) stated at the FATF General Assembly held in Paris from June 15 to 19 that, as money laundering risks related to cross-border digital asset transactions grow, member countries should apply the Travel Rule to both the sender and receiver VASPs simultaneously and expand its scope to include small transactions. FIU also proposed strengthening customer due diligence for cases where criminal organizations use overseas, unregistered VASPs, and suggested considering restrictions on transactions with high-risk unregistered VASPs. Additionally, they emphasized the need to continuously monitor emerging risks like stablecoins and DeFi while enhancing global cooperation. South Korea's FIU had previously pushed for related regulations in the amendment to the Enforcement Decree of the Specific Financial Information Act, set to take effect in August, including expanding the Travel Rule's scope from transactions above 1 million KRW to those below 1 million KRW. https://(wublock123.com)/news/south-korea-fiu-proposes-expand-travel-rule-for-small-crypto-transfers-63206