Wire · regulatory
South Korea's Law and Proposed Rules Focus on Crypto Transfer Reporting
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Fusion42 · 24 October 2026 · Fusion42 review
South Korea has passed Act No. 21714 defining virtual assets and related transfer businesses, set to take effect on December 3, with proposed enforcement decrees requiring crypto transfer service providers to report cross-border virtual asset transfers to the Bank of Korea's foreign-exchange system.
This Wire brief sits within Fusion42's coverage of Fintech.
◆ ◆ The Wire takeaway
You must tighten compliance with South Korea’s new crypto transfer reporting rules that open market access but create fresh operational demands. The Bank of Korea now requires your full transfer data for any cross-border transactions from December.
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1 source · 24 Oct 2026
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