#SouthKoreaCryptoPolicy — this is a brief overview of South Korea's policy regarding cryptocurrencies:

In July 2024, the Virtual Asset User Protection Act came into effect, which requires crypto exchanges to keep at least 80% of users' funds in cold wallets, transfer fiat to banks, and have insurance in case of hacking. AML control is also being actively strengthened — VASPs are required to submit reports quarterly.

In 2025, South Korea will gradually open the market to institutions — first non-profit organizations and universities, then public companies and investors. Regulation of cross-border transactions is also planned for the second half of the year.

Currently, the development of the second reform package is underway — transparency of listings, stablecoin regulation, and strengthening account requirements for corporations and investment platforms.