The Bank of Korea plans to report monthly the assets held on domestic platforms by users who have made at least one cross-border transfer since July 19, 2024. According to data provided by lawmaker Park Soo-young, 1,272,678 users of the country’s five largest platforms could be affected, including inactive accounts and assets delisted from trading or placed in staking. Providers will also have to submit daily reports detailing international transfers before 11 a.m., while monthly reports will include users’ identities and balances. The measure, scheduled for December 3, is intended to combat money laundering, illegal capital transfers and currency-rule circumvention, but lawmaker Park Soo-young considers it disproportionate.
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