Key takeawaysSouth Korea's Cabinet approved removing the 1 million won (~$720) Travel Rule threshold on August 11, 2026; the rule will cover every VASP-to-VASP transfer, regardless of amount, starting February 20, 2027. The Threshold Was the Last Escape ValveThe 1 million won carve-out was the only remaining operational gap inside the Korean VASP surveillance perimeter. Korean VASPs must also implement suspicious transaction monitoring systems for transfers of at least 10 million won involving foreign exchanges or personal wallets. South Korea was the first jurisdiction to legally implement the Travel Rule and is now the first to eliminate the de minimis floor entirely. How Korean exchanges implement the same-person rule for personal wallet withdrawals will determine whether cold storage remains a practical exit for ordinary users or becomes a compliance process.