#SouthKoreaCryptoPolicy

Latest updates on South Korea's policy towards cryptocurrencies (up to mid-2025) in an organized and simplified manner:

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🛡️ 1. Investor protection and platform regulation

• The Virtual Asset User Protection Act was enacted in July 2024, which mandates:

• Storing 80% of customer assets in 'cold' wallets.

• Issuing insurance against breaches.

• Strict oversight of unfair trading.

• Laws against money laundering have been tightened; platforms are required to submit KoFIU reports periodically and comply with 'Know Your Customer' standards.

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🌐 2. Regulation of Stablecoins

• In 2024, a new regulatory framework was implemented for stablecoin issuers, requiring them to maintain a 1:1 ratio of legal currencies and independent audits.