#SouthKoreaCryptoPolicy

South Korea has taken cryptocurrencies seriously, they have a clear system that protects investors and regulates the market. Here are the most important things you need to know:

- They have a new law regulating trading platforms and requiring strict conditions

- They do not allow trading without identity; every account must be linked to your real name

- A 20% tax on profits will be implemented starting next year

- There is a tax exemption if your profits are less than about two thousand dollars annually

- They have strict rules to protect people from fraud and scams

- They restrict leveraged trading to prevent people from losing their money quickly

- They have specific conditions for stablecoins; they do not accept just any

- They are currently working on their official digital currency issued by the central bank

Final advice: If you are trading there, use only licensed and approved platforms to ensure your rights.