{
  "id": 16177322,
  "title": "Bank of Korea Seeks Monthly Crypto Transfer Reporting",
  "url": "https://urgent.news/2026/10/23/bank-of-korea-seeks-monthly-crypto-transfer-reporting",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-23T11:20:52.000Z",
  "source": {
    "name": "BusinessKorea",
    "slug": "businesskorea",
    "url": "https://www.businesskorea.co.kr/news/articleView.html?idxno=279576"
  },
  "original_language": "en",
  "account": "The Bank of Korea is proposing a plan that requires monthly reporting of domestic cryptocurrency balances for users with a history of overseas transfers. This proposal, discussed on October 23, aims to prevent illegal foreign exchange transactions through cross-border virtual asset transfers. The proposal establishes a transaction information reporting system detailed in a manual received by the Digital Asset eXchange Alliance on October 2. The system requires virtual asset exchanges to report inflows and outflows by 11:00 a.m. the following day. The Bank of Korea targets users who have made at least one transfer since July 19, 2024, including dormant accounts and delisted virtual assets. The Bank of Korea emphasizes the draft nature of the proposal, with the final version confirmed after discussions with relevant parties. The official from the Bank of Korea aims to strike a balance between law enforcement and reducing the burden on service providers. A total of 1,272,878 users have a history of cross-border transfers at five major domestic exchanges, sparking concerns over excessive personal information collection.",
  "summary": "The Bank of Korea is pushing for a plan that requires monthly reporting of the domestic virtual asset balances of users who have a history of overseas virtual asset transfer transactions, sparking controversy.The Bank of Korea stated on Oct. 23 that it is discussing the final reporting format throug",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}