#SouthKoreaCryptoPolicy The country has a large and active cryptocurrency market: more than 18 million people are engaged in digital assets, and the trading volume on domestic cryptocurrency exchanges sometimes exceeds the turnover of the stock indices Kospi and Kosdaq.

Cryptocurrencies are not considered legal tender in South Korea, and exchanges, while legal, are regulated by a strict regulatory framework. In South Korea, cryptocurrency taxation is a gray area: since cryptocurrency transactions are neither cash nor financial assets, they are currently not taxed.

According to data published by the Bank of Korea, at the end of last year, residents of South Korea owned cryptocurrency assets worth approximately 104 trillion won (74.5 billion USD).