#SouthKoreaCryptoPolicy A New Era for Digital Assets!

South Korea is actively shaping a pro-crypto policy that promises significant changes. With the election of the new crypto-friendly president Lee, the country is preparing to legalize spot crypto ETFs and open the market to institutional investors. KYC/AML requirements are being strengthened to enhance transparency and protection.

Starting July 2024, the Virtual Asset Users Protection Act (VAUPA) will come into effect, ensuring stricter controls against malicious trading. There are also plans to increase the tax-free threshold for crypto gains, while the capital gains tax is postponed until 2027. South Korea aims to become a global crypto hub!