News
South Korea’s National Tax Service warned that cold wallets are not beyond its reach, as it will conduct home searches to combat tax evasion.
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South Korea News
South Korea, officially the Republic of Korea, is a country in East Asia. The country is home to almost 52 million people and uses the South Korean won as its currency. Its capital city, Seoul, is geographically located in the nation’s upper region. Thanks in part to its bustling capital and the nation’s landscape, South Korea’s economy benefits from various factors, including high technological advancement. South Korea borders North Korea, also known as the Democratic People’s Republic of Korea.
South Korea has stringent crypto regulations focused on preventing illegal activities and ensuring transparency. Cryptocurrencies like Bitcoin (BTC) are regulated under precise Anti-Money Laundering and securities regulations enforced by the Financial Securities Commission (FSC) of South Korea.
Reporting guidelines for crypto service providers, including centralized and decentralized exchanges, are fundamental in South Korea. The regulatory framework is influenced by the government’s evolving policy stance on crypto assets. When sold, cryptocurrencies held as investments are subject to a 20% capital gains tax for individuals and 22% for corporations. Additionally, cryptocurrencies used for payments may incur a 10% value-added tax in South Korea.
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Stablecoin payments firm RedotPay said it became a fintech unicorn after a $47 million round with participation from Coinbase Ventures, Galaxy Ventures and Vertex Ventures.
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Naver is often called the “Google of South Korea,” and is the top search engine in the country. Upbit Korea is the largest crypto exchange in South Korea.
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Korean investors dumped Tesla and embraced crypto with $12 billion in inflows. This is reshaping global capital flows and risk.
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South Korea reportedly flagged a record 36,684 suspicious crypto transactions in 2025, surpassing the combined total of the past two years.
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Governments around the world are exploring and launching stablecoins to remain competitive against dollar-pegged digital fiat tokens.
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While Silicon Valley dominates Web2, emerging markets like the UAE and Singapore lead DePIN adoption with better regulations and real infrastructure needs.
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South Korea’s Minister of SMEs and Startups, Han Seong-sook, said the regulatory change could stimulate growth in crypto and blockchain technologies.
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South Korean fintech unicorn Toss plans to launch a finance superapp in Australia this year and issue a Korean won stablecoin once regulations allow.
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South Korean crypto exchange Upbit confirmed it has launched Giwa, an Ethereum layer 2 on testnet, focused on one-second block times and optimizing user experience.
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South Korea’s Financial Services Commission introduced new rules for crypto lending, banning leveraged loans, capping interest at 20% and restricting use to the top coins.
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Lee Eok-won, South Korea’s Financial Services Commission chief nominee, dismissed cryptocurrency as highly volatile and lacking intrinsic value.
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Binance and Tether are eyeing Korea’s stablecoin rules that may boost coins pegged to the South Korean won or strengthen USD dominance.
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Thai police have arrested a South Korean man accused of helping a call center gang launder over $50 million in crypto into gold.
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Family offices across Asia are boosting digital asset exposure, driving new crypto funds, exchange activity, and shifting adoption beyond retail-led growth.
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