#SouthKoreaCryptoPolicy

South Korea has taken cryptocurrency 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 that regulates trading platforms and requires them to meet strict conditions.

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

- They will apply a 20% tax on profits 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 criteria for stablecoins; they do not accept just any one.

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

Final advice: If you are trading there, only use approved platforms with official licenses to ensure your rights.