#SouthKoreaCryptoPolicy They have a new law that governs trading platforms and requires strict conditions
- They do not accept trading without an 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 scams and fraud
- They restrict leveraged trading to prevent people from losing their money quickly
- They have specific conditions for stablecoins; they do not accept any unit
- They are currently working on their official digital currency linked to the central bank
The last advice: If you are trading with them, only use the approved platforms that have official licenses to ensure safety