South Korea Tightens the Process for Transferring Cryptocurrency Assets to Overseas Exchanges
2026-08-13 11:33:44
According to CoinMeta, and as reported by news1, after Korean assets were delisted from local exchanges such as bybit and okx in bybit, South Korea is further tightening the process of transferring crypto assets to overseas platforms. Under the latest amendments to the "Specific Financial Information Act," Korean exchanges will now need to decide whether to allow transfers to certain overseas exchanges or individual wallets based on the risk level of those platforms. In such cases, exchanges may require users to prove that the account belongs to them and to explain the purpose of the transaction and the source of funds. If the information provided is insufficient, transfers may be delayed or denied. Transactions amounting to over 10 million Korean won per transaction will also be included in the exchanges' own systems for monitoring suspicious transactions. These new regulations will come into effect six months after they are announced.
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