#SouthKoreaCryptoPolicy
Since July 2024, the Virtual Asset User Protection Act mandates strict safeguards: exchanges must store ≥ 80 % of user assets in cold wallets, segregate funds, purchase insurance, enforce KYC/AML, and report to authorities . The Financial Services Commission (FSC), with support from the Financial Supervisory Service and Korea FIU, oversees licensing and compliance . A 20 % gains tax on crypto profit above ₩2.5 million is scheduled for 2028 . In 2025, policy reform will abolish the one‑exchange–one‑bank rule, allow institutional trading, pilot corporate accounts and crypto donations, and clear the way for spot‑crypto ETFs .