#SouthKoreaCryptoPolicy
🐳 - South Korea is one of the most active countries in the global cryptocurrency market, with policies that profoundly affect its domestic market and serve as a reference for the global market. In 2024, the South Korean government implemented several policies to balance risk control with technological innovation.
- Anti-Money Laundering and Stablecoin Regulation: The Financial Services Commission (FSC) launched the "Enhanced AML Framework for Virtual Assets," requiring all exchanges to submit compliance reports to KoFIU quarterly and undergo special anti-money laundering audits. Additionally, the "Stable Cryptocurrency Regulation Act" stipulates that all issuers of stable cryptocurrencies must maintain a reserve of fiat currency at a ratio of 1:1 and undergo regular independent audits.
