#SouthKoreaCryptoPolicy

South Korea has taken cryptocurrencies seriously; they have a clear system to protect investors and regulate the market. The most important things you need to know:

- They have a new law that regulates trading platforms and requires strict conditions from them.

- They do not allow trading without identity; every account must be linked to your real name.

- A 20% tax on profits will be applied starting next year.

- There is a tax exemption if your profits are less than about two thousand dollars annually.

- They have strict rules to protect people from fraud and scams.

- They limit leveraged trading to prevent people from losing their money quickly.

- They have specific requirements for stablecoins; they do not accept any unit.

- They are currently working on their official digital currency issued by the central bank.

Final advice: If you are trading with them, only use approved platforms that have an official license to ensure your rights.