[South Korea Strengthens Crypto Regulations: Stricter Review of Major Shareholders in Exchanges, Removal of Travel Rule Threshold] According to South Korean media outlet Edaily, the Financial Intelligence Unit (FIU) of South Korea announced that the amendment to the Enforcement Decree of the 'Act on Reporting and Using Specified Financial Transaction Information,' aimed at strengthening crypto industry regulations, has been approved by the State Council. The main changes under the new regulations include stricter reviews of the qualifications of major shareholders in exchanges, as well as a requirement that exchanges maintain a debt ratio not exceeding 200%. Additionally, the previous Travel Rule, which only applied to transactions exceeding 1 million Korean won, will now cover all transfers, with no minimum amount threshold. Transactions involving overseas exchanges and personal wallets will be subject to differentiated controls based on risk levels. The new regulations also mandate that exchanges employ professional personnel, have necessary equipment, and establish internal control systems. Existing exchanges will be granted a one-year grace period. Some provisions will take effect starting August 20, while those related to the Travel Rule and other aspects will be officially implemented six months later.