South Korea Compliance Report

Regulatory Overview

Regulatory Status

Dedicated crypto/VA legislation, licensing regime, active enforcement

Key Regulator(s)

FSC, KoFIU

Risk Level

low

Primary Legislation

[object Object], [object Object], [object Object]

Travel Rule

Adopted — Threshold: Implemented

Tax Reporting

20% tax on crypto gains above KRW 2.5M (implementation deferred, effective 2025). **Individuals**: Must track acquisition costs, sales, and fees; NTS plans dedicated crypto monitoring units for data collection and evasion prevention pre-2027.[1][3] Blockchain traceability aids enforcement.[1]. **Businesses**: Similar tracking required; virtual asset service providers (VASPs) face heightened reporting to NTS.[3]. **2026 Tax Reform Bill** (enacted Dec 31, 2024): Defers tax to 2027; applies to fiscal years from Jan 1, 2026, but gains tax starts 2027.[1]. **Digital Asset Basic Act**: Supports framework for oversight and taxation (20% on gains >$35,900).[1]

Key Facts

Data collection in progress. This country's compliance facts are queued for research by our AI worker fleet. Check back soon or access data via MCP.