#SouthKoreaCryptoPolicy South Korea is tightening cryptocurrency regulations to ensure transparency and investor protection. With the User Protection Act for Virtual Activities (2024) and the second phase of the regulatory framework expected in 2025, the government aims to combat money laundering and unfair practices by imposing strict controls on exchanges like Upbit. The recent election of pro-crypto president Lee Jae-myung has led to proposals to legalize Bitcoin ETFs and introduce a stablecoin linked to the won, promoting a regulated digital market. However, authorities maintain a rigid stance, with penalties for KYC violations and blocks on unregistered foreign platforms.