If you intend to trade in South Korea, be prepared to commit... The new laws leave no room for manipulation. Trading platforms are now required to link every account to a real name, which means goodbye to anonymous accounts.
š¼ Starting next year, a 20% tax will be imposed on cryptocurrency profits, with an exemption for those whose profits do not exceed $1000 annually.
š To protect users from fraud, the government has established strict rules including auditing stablecoins and not accepting any currency without clear conditions. Even leveraged trading has been restricted to protect people from rapid losses.
š®āāļø Korea is not fighting crypto, but rather regulating it intelligently... and it is now working on issuing an official digital currency from the central bank, to be at the forefront of global financial innovation.