The Bank of Korea released a regulatory proposal paper, suggesting that transactions of personal stablecoins exceeding $10,000 should be limited to transfers between verified wallets

The legal team of the Bank of Korea released a research paper titled "Regulatory Framework for Foreign Remittance Transactions Involving Stablecoins," proposing regulatory recommendations for large stablecoin transactions. The paper references South Korea's current foreign exchange management regulations and outlines constraints for stablecoin transfers exceeding $10,000 between individuals, requiring such transactions to be conducted only between officially certified wallets, along with a prior declaration mechanism.

Institutions admit that comprehensive control over unregistered wallets faces technical obstacles, but due to anti-money laundering compliance requirements, it is necessary to strengthen restrictions on large cross-border stablecoin fund flows. South Korean regulatory authorities have previously stated the need to improve the monitoring system for cross-border cryptocurrency transactions involving non-custodial wallets, and this paper further refines the control approach.