Herald Economy reported that the industry recently requested reconsideration from authorities after financial authorities decided to expand the 'travel rule' (verification of sender's information when transferring 1 million won or more) obligation to transfers under 1 million won through an amendment to the Specific Financial Information Act. The reason given is that deposit screening delays due to user information verification, etc., can lead to losses due to price fluctuations and potentially hinder the exercise of property rights. The Financial Services Commission announced the amendment to the Enforcement Decree of the Special Act in March and is collecting industry opinions until the 11th.
