IMPORTANT!!!!
🇰🇷 South Korea Crypto Policy (Summary)
1. Legality & Exchange
• Exchanges must be registered with the Korea FIU.
• Must use real name system & KYC/AML.
• Foreign exchanges without permission are blocked.
2. User Protection (2024)
• User assets must be segregated & securely stored.
• 80% of assets are kept in cold wallets.
• Market manipulation is prohibited, monitored by FSC & Bank of Korea.
3. Crypto Tax
20% on profits > 2.5 million KRW (~US$1,800). But postponed until 2028.
4. Institutional Trading
• 2025: Non-profit institutions & professional investors may trade crypto.
• Real name accounts will be opened for large corporations.
5. Cross-Border Transactions
• Starting 2025: monthly reporting to the Bank of Korea will be mandatory.
• To prevent money laundering & currency smuggling.
6. Advanced Regulation (2025)
• Focus on stablecoins, listing, custody, and crypto advisory.
• Draft of the second phase rules to be completed by mid-2025.