🇰🇷 South Korea’s Crypto
Seoul is tightening the screws on crypto — new laws could reshape your portfolio. Here’s the lowdown:
🔒 New Rules Going Live
User Protection Act (July 19):
Exchanges MUST keep 80% of user funds in cold wallets.
Hacks? Platforms pay you back (finally!).
Insider trading = 5+ years jail. 💥
Altcoin Purge:
600+ coins delisted since 2023 (WEMIX, PICA axed).
Only Upbit, Bithumb, Korbit, Coinone survived licensing.
💰 Trading Shifts
Kimchi Premium Dying:
BTC prices in KRW now track global markets closer (premium <1% vs. 30% in 2021).
Won Pairs Dominating:
90% of Korean volume is KRW pairs (BTC/KRW, SOL/KRW). Avoid USD pairs there!
Memecoin Mania Cooling:
Trading fees up 200% for tokens under $0.01 → less pump-n-dump.
🚨 Risks to Watch
Tax Delay ≠ Cancellation:
20% gains tax (over $2,100) still coming in 2025!
UST/Luna Trauma:
Regulators HATE "algorithmic stables" (new bans likely).
💡 Your Game Plan
✅ Stick to Top Exchanges: Upbit/Bithumb only.
✅ Trade Major KRW Pairs: BTC/KRW, ETH/KRW, XRP/KRW.
❌ Avoid: Low-cap alts, memecoins, unlicensed platforms.
🔥 Hot Take: Korea’s spot Bitcoin ETF approval could come EARLY 2025 if opposition party wins April elections!
👇 Comment: Which Korean coin are you holding?
(DYOR: Korean markets move FAST!)
