#SouthKoreaCryptoPolicy South Korea has a strict but evolving crypto regulatory framework, focusing on investor protection and anti-money laundering (AML). The government mandates real-name bank accounts for crypto trading and bans anonymous transactions. Initial coin offerings (ICOs) remain prohibited, while exchanges must obtain licenses and comply with Financial Intelligence Unit (FIU) guidelines. The "Travel Rule" requires reporting transactions over $1,000. Despite restrictions, South Korea is a major crypto hub, with high retail participation. Recent discussions include potential Bitcoin ETF approvals and tighter oversight following scandals like Terra-LUNA’s collapse. The government aims to balance innovation with risk control in its crypto policies.