#SouthKoreaCryptoPolicy South Korea is actively developing its policy regarding cryptocurrencies, striving to balance innovation and investor protection. In 2024-2025, there is a significant tightening of regulations, while opportunities for institutional participation are expanding.

Here are the key aspects of South Korea's current and future policy on cryptocurrencies:

1. Virtual Asset User Protection Act:

* Comes into effect on July 19, 2024. This law serves as the foundation for enhanced regulation.

* Increased liability: Strict penalties are provided for market manipulation, fraud, and the use of undisclosed information about virtual assets, including life imprisonment if profits from illegal activities exceed 5 billion won (approximately $3.7 million).