#SouthKoreaCryptoPolicy #Binance #Square

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South Korea has taken cryptocurrencies seriously, they have a clear system that protects investors and regulates the market. The most important things you need to know:

- They have a new law regulating trading platforms and require strict conditions.

- They do not accept trading without identity; every account must be linked to your real name.

- A 20% tax on profits will be implemented starting next year.

- There is a tax exemption if your profits are less than about two thousand dollars annually.

- They have strict rules to protect people from fraud and scams.

- They restrict leveraged trading to prevent people from losing their money quickly.

- They have special conditions for stablecoins; they do not accept just any one.

- They are currently working on their official digital currency issued by the central bank.

Final advice: If you are trading with them, use only approved platforms that have official licensing to ensure your rights.