Korean crypto exchanges push back against strict 10M won AML trigger
Korean crypto exchanges push back against strict 10M won AML trigger
South Korea’s DAXA industry alliance has formally objected to a plan forcing exchanges to treat all overseas crypto transfers above 10 million won (about $6,800) as suspicious transactions.The group warns the rule would blow up annual suspicious transaction reports from roughly 63,000 to more than 5.4 million at the five largest platforms, making compliance “virtually unworkable.”The clash comes as Upbit, Bithumb and Coinone win court relief from earlier sanctions, highlighting growing friction between regulators and the domestic digital asset industry.