#SouthKoreaCryptoPolicy

SouthKoreaCryptoPolicy Privacy coins remain banned since 2021 .

🔒 User Protection

The Virtual Asset User Protection Act (effective July 2024) enhances safeguards by requiring cold storage, user deposit insurance, and strict oversight of VASPs .

💰 Crypto Taxation

A 20% capital gains tax on crypto profits above ₩2.5 million (~US $1,800) was scheduled for Jan 1, 2025, but has been delayed to 2028 .