#SouthKoreaCryptoPolicy

South Korea has established a comprehensive and multi-layered regulatory framework for digital assets. It began with the mandatory registration of Virtual Asset Service Providers (VASPs) under the oversight of the Financial Services Commission. As part of its tightening regulations, the country has banned privacy coins, citing concerns over anonymity and potential misuse. Additionally, new rules have been introduced to enhance transparency and accountability in token issuance and trading activities. These measures aim to promote investor protection, curb illegal transactions, and align the country's crypto market with international compliance standards.