Guides
South Korea crypto rules explained: cold wallets, bank-held cash and jail terms
Crypto exchanges in South Korea must register with the Financial Intelligence Unit and, since July 19, 2024, follow the Virtual Asset User Protection Act: customer cash held at banks, most coins in cold wallets, and prison terms for market manipulation.
Exchanges
Korea's crypto exchanges lost a third of their market in six months. Profits fell 78%
Official KoFIU data for the first half of 2026 shows market value, trading and won deposits all collapsing, with a 69% peak-to-trough drop that was worse than the stock market's. Exchange profits took the biggest hit.