#SouthKoreaCryptoPolicy

South Korea continues to direct all its efforts towards the development of the crypto industry.

New laws are being introduced aimed at maximum control over crypto assets, but among them are also positive aspects, namely:

— conditions are being created under which exchanges will be required to store up to 80% of investors' crypto assets in cold wallets, which provides secure storage for investors and eliminates the possibility of hacker attacks and fund withdrawals;

— introducing insurance for crypto assets and insurance payouts in case of hacker attacks and theft of investors' funds.

A 20% tax on profits is also being introduced, which may not be very pleasant for investors; however, it allows for official operations. It should be noted, though, that with high volatility and high risks in crypto trading, taxes cannot please anyone.