$BTC #SouthKoreaCryptoPolicy

🇰🇷 The state of cryptocurrency policy in South Korea for 2024–2025:

✅ 1. Strict regulation but gradually opening up

• South Korea is one of the countries with very strict cryptocurrency regulations, especially after incidents like the Terra-LUNA collapse.

• However, from 2023–2024, the country has shown signs of gradually easing, recognizing crypto as part of the financial system.

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🔒 2. Supervision & investor protection policy (FSC - Financial Services Commission):

• All crypto exchanges must register and comply with anti-money laundering laws (AML/KYC).

• Anonymous trading has been banned.

• Bank accounts linked to exchanges must verify real identity (“real-name system”).

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📘 3. The “Virtual Asset User Protection Act” (effective from July 19, 2024):

An important turning point:

• Requires exchanges to protect user assets, at least 80% of customer assets must be held in cold storage.

• Insider trading, price manipulation, and misinformation are prohibited.

• Heavy penalties including imprisonment and fines for violations (up to life imprisonment for significant embezzlement).

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