#SouthKoreaCryptoPolicy SouthKoreaPoliticsCrypto

South Korea takes cryptocurrencies very seriously, they have a clear system that protects investors and regulates the market. Here are the most important things to know:

- They have a new law that controls trading platforms and requires strict conditions

- They do not accept trading without identity, each account must be linked to your real name

- They will impose a 20% tax on profits starting next year

- There is a tax exemption if your profits are below about two thousand dollars per year

- They have strict rules to protect people against scams and fraud

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

- They have specific conditions for stablecoins, they do not accept just any

- They are currently working on their own official digital currency linked to the central bank