#SouthKoreaCryptoPolicy: Cryptocurrency Policy in South Korea
South Korea is one of the countries with the most developed cryptocurrency markets in Asia, and it also has a strict legal framework to manage this sector. The South Korean government requires all cryptocurrency exchanges to register with financial regulatory authorities and comply with strict anti-money laundering (AML) regulations. Users are required to verify their real identity (KYC) when participating in transactions.
Since 2021, South Korea has banned anonymous trading and required exchanges to link with banks to ensure that accounts are in real names. In 2023, the government also enacted a law requiring the disclosure of virtual assets of public officials, demonstrating a commitment to transparency and anti-corruption.
In 2025, South Korea will continue to tighten controls with plans to establish a Digital Asset Supervisory Agency to monitor and investigate fraudulent activities and market manipulation in the cryptocurrency sector.
South Korea's policy reflects a balanced approach between protecting investors and promoting technological innovation, contributing to shaping a transparent and sustainable cryptocurrency environment.