#SouthKoreaCryptoPolicy In 2025, South Korea will strengthen its control over the cryptocurrency market, emphasizing transparency, security, and investor protection. But will this contribute to the industry's growth or, on the contrary, stifle it? Let's examine the key changes 🧐👇

📜 New Legislation

Starting from July 2024, the Digital Asset User Protection Act will come into effect. It requires cryptocurrency exchanges to:

store at least 80% of assets in cold wallets ❄️

create insurance reserves to cover hacker attacks 🛡️

disclose conflicts of interest and fiscal information 🧾

💰 Tax Reform

A 20% tax on profits from crypto assets will be introduced (provided that income exceeds 2,500,000 KRW ≈ $1,800). Launch is expected in 2025. 💸

⚖️ Strict Oversight

The South Korean Financial Services Commission (FSC) will gain more authority to review tokens, halt trading of suspicious assets, and license projects. 🕵️‍♂️

📈 What does this mean for the market?

✔️ Investors will gain more confidence

❗ Startups will face bureaucracy

🤝 South Korea aims to become the 'Switzerland of the East'