#SouthKoreaCryptoPolicy South Korea’s crypto policy has become increasingly structured, aiming to balance innovation with investor protection. In July 2024, the **Virtual Asset User Protection Act** introduced stringent rules: exchanges must segregate user funds from their own, hold at least 80 % in cold wallets, maintain insurance, and retain detailed audit records . Also, real-name bank accounts and anti-money laundering protocols have been mandatory since 2021 . A 20 % tax on gains above \~₩2.5 million (\~US \$2 000) is set to begin in January 2025 . In 2025, the FSC will phase in institutional access—non‑profits first, followed by listed firms—marking a major shift since the 2017 corporate ban