South Korea Expands Travel Rule: What It Means for Your Wallet
- Starting August 20, 2026, all Korean VASP transfers will face Travel Rule requirements.
- Despite the change, the updated rules don’t automatically include self-custody wallets.
- Travel Rule mainly covers VASP transfers, generally excluding peer-to-peer movements.
From August 20, 2026, every transfer between South Korean VASPs (Virtual Asset Service Providers) becomes subject to Travel Rule requirements, regardless of value. Previously, the requirements only applied to crypto transfers worth ₩1 million (around $700) or more.
Under the Travel Rule, VASPs have to collect and pass along sender and receiver details for every crypto transfer. Now, exchanges like Upbit, Bithumb, Coinone, Korbit, or any Korean exchange sending funds to another regulated platform will have to swap customer information even for tiny transactions.
South Korea’s FSC (Financial Service…
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