#SouthKoreaCryptoPolicy

🇰🇷 SouthKoreaCryptoPolicy: Get to know the rules of the crypto game in South Korea! 💹

South Korea is a global leader in cryptocurrencies, but its regulation is strict. Here’s the essentials:

✅ Virtual Asset User Protection Act (VAUPA): Starting July 2024, it protects users by requiring exchanges to separate customer funds and use cold wallets. ✅ Kimchi Premium: The prices of cryptos like Bitcoin are usually 20-30% higher in South Korea due to high local demand and restrictions. ✅ Political novelty: The new president Lee Jae-myung is pushing to legalize spot Bitcoin ETFs and stablecoins linked to the won.