#SouthKoreaCryptoPolicy
🏛️ Current Regulatory Framework
✅ Licensing & Exchange Rules
All crypto exchanges must register with the Korea Financial Intelligence Unit (FSC‑FIU), hold ISMS certification, offer real-name bank accounts, enforce KYC/AML, and meet standards like 80% cold storage for user assets .
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 .
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📈 Institutional & Corporate Access
🏢 Corporate Crypto Accounts
Historically, banks were discouraged from issuing real-name accounts to corporations. Now, the FSC is phasing in corporate accounts for universities, foundations, and listed companies, starting in 2025 .