#SouthKoreaCryptoPolicy

🇰🇷 South Korea Crypto Policy 101: A Nation Getting Serious About Web3 🔍

South Korea isn’t just into crypto — it’s regulating it seriously.

Here's what you need to know about the current policy landscape:

📌 South Korea Crypto Policy – Key Points:

1. Virtual Asset User Protection Act (effective July 2024):

– First law defining crypto user rights.

– Requires exchanges to store at least 80% of user funds in cold wallets.

– Mandatory insurance coverage for hacks.

2. Strict Exchange Rules:

– Only licensed exchanges with real-name bank accounts can operate.

– Tighter rules on token listings and delistings.

3. Taxation Coming Soon:

– Crypto gains over 2.5 million KRW (~$1,900 USD) to be taxed (delayed to 2025).

4. Strong Focus on AML & KYC:

– Full transparency with the Financial Intelligence Unit.

– Crypto mixing services under increased scrutiny.

🌏 Why it matters:

South Korea is positioning itself as a safe, regulated hub for digital assets—balancing innovation with investor protection.

📣 If you’re trading or building in Web3, keep your eyes on Seoul. The rules here might shape the next phase of global crypto regulation.

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