South Korea’s finance ministry has unveiled plans to regulate cross-border cryptocurrency transactions starting in the second half of 2025. The new framework will require businesses engaging in virtual asset trading to complete mandatory registration and submit monthly transaction reports to the Bank of Korea.
The regulatory push comes in response to significant financial crimes involving virtual assets. According to the customs agency, virtual assets were involved in 81.3% of foreign exchange-related crimes since 2020, totaling approximately 11 trillion won ($7.97 billion).
The measure aims to enhance transparency in virtual asset trading and strengthen oversight of cross-border transactions. Implementation will begin after completing necessary legislative procedures, marking South Korea’s latest step in developing a comprehensive cryptocurrency regulatory framework.
