Crypto industry faces decree dispute as FIU meets exchanges on 13th

The Financial Intelligence Unit will meet DAXA and virtual asset exchanges on the 13th to discuss issues surrounding the enforcement decree of the Special Financial Information Act. The key dispute is a rule requiring suspicious transaction reports to financial authorities whenever a virtual asset transaction reaches 10 million won or more. The industry says the rule could increase report volumes by 85 times, making normal operations difficult. The emergency meeting is expected to address how the decree would be applied and the burden it places on exchanges. Source: mk.co.kr