#SouthKoreaCryptoPolicy South Korea's crypto policy is focused on enforcing a strict regulatory framework to ensure compliance with global standards. Here are some key aspects ¹ ² ³:

- *FATF Travel Rule*: South Korea has implemented the Financial Action Task Force (FATF) Travel Rule, requiring Virtual Asset Service Providers (VASPs) to comply with regulations on virtual assets and cryptocurrency transactions.

- *KYC/AML Guidelines*: The country enforces strict Know Your Customer (KYC) and Anti-Money Laundering (AML) guidelines, pushing exchanges to meet these standards to prevent illicit activities.

- *Self-Regulatory Body*: A proposed bill suggests establishing a legally recognized self-regulatory body to oversee the crypto industry.

- *Stablecoin Approval System*: The bill also proposes a stablecoin approval system to provide clearer rules and regulations for stablecoin issuers.

- *Clearer Rules*: The government aims to provide clearer rules and regulations for the crypto industry, bolstering its growth while preventing scandals.

These regulations aim to balance innovation with investor protection and prevent illicit activities in the crypto space.