Crypto license in South Korea

Published:
October 5, 2022
seoul 2968290 1920

South Korea is a well-known hub for cryptocurrency. In just a few years, 10 per cent of the residents have engaged in crypto-investing after the boom of cryptos broadly impacted the state in 2017. Presently, South Korea is listed as having one of the world’s highest levels of involvement in cryptocurrency marketplaces. Thus, a lot of traders are attracted to crypto licenses in South Korea in 2022. If you want to know more about the strategy of obtaining a crypto license in South Korea, our professionals can assist you.

Crypto business in South Korea – permission

It is permitted to run the commerce activity related to e-currencies in South Korea. The federal administration has not recognized crypto as a legitimate form of remittance.

Possibilities of cryptocurrency exchange license in South Korea

Enterprises with a VASP license in South Korea are companies that carry out one or more of the next tasks or actions:

  • trading digital assets,
  • transmitting and exchanging digital assets,
  • holding and managing digital assets,
  • the brokerage of digital assets.

Regulation of licenses for cryptocurrencies in South Korea

Only authenticated deposit accounts are permitted for crypto-trading. To put it simply, this implies that under the renewed limitations, clients must have accounts in the banks in their names at the identical FI as their crypto-broker to withdraw or make deposits into their electronic wallet. Besides, the official AML and CFT requirements as well as the structured transfers registering rules require the bank and the dealer to confirm the trader’s identity. The absence of legislative requirements that mandate the creation of verified bank accounts on real names presents a difficulty. This implies that the exclusive authority for assessing the risks associated with a particular VASP and granting a verified account in that person’s actual name belongs to banks.

Authenticated Accounts

In accordance with the legislation, corporations with cryptocurrency licenses in South Korea have to use genuine names while doing trade business with clients.

Additional conditions are outlined in the implementation decree for VASPs to create accounts with real names with financial entities:

  • a KISA accreditation for the defence control system;
  • a separation of clients’ deposits;
  • a lack of prior fines or other penalties within the past five years;
  • administration of client transaction records separately;
  • monetary entities’ evaluation of the money laundering situations connected to VASPs.

The authenticated banking account regulations do not apply to VASPs whose service functions do not contain the exchanging of virtual assets for fiat funds.

Our specialists will help you choose the best option among various businesses for sale. Feel free to contact us anytime.

Related insights

UK Company Bank Accounts with Foreign UBOs: Key Success Factors

Opening a British company bank account has always been an object of interest for firms willing to build trust, access local clients, and also operate trouble-free in the European Union. However, there might be one difficulty. When the ultimate beneficial owners are represented by foreigners, the process can turn daunting. Being under strict regulatory pressure,…

Read more 22.09.2025

Best Countries in Europe to Obtain an Electronic Money Institution (EMI) License

In fact, the establishment of an Electronic Money Institution (EMI) can be a very wise move for the many fintechs out there searching for regulated access to the payments market of the EU/EEA with full passporting rights. The regulator of each country might have a totally different perspective on timelines, scrutiny, supervisory style, and post-licensing…

Read more 22.09.2025

UAE Free Zone or Mainland License? Choosing the Right Path for Your Business in 2025

When it comes to setting up a business, the UAE is right there among the world’s best. The vision of the emirates as a conduit to markets across the Middle East, Africa, and Asia has for time out of mind drawn entrepreneurs and investors alike—from Dubai’s bustling financial districts to the strategic global connections of…

Read more 22.09.2025

Puerto Rico IFE/IBE Update & Overview

Puerto Rico is one of the few US regions that offers an organized offshore banking structure with meaningful tax incentives. There are two routes available IFE and IBE. They give access to a 4 % tax rate and dividend exemptions for owners from abroad. Nevertheless, these two permits are created for diverse purposes and are…

Read more 16.09.2025

St. Kitts and Nevis: Your Premier Tax Haven in 2025

Nowadays, St. Kitts and Nevis is considered one of the most appealing places for protection of belongings and wealth structuring. The governmental body continues to maintain a low-regulation monetary environment and a steady regulatory climate for businesses for sale. Over the past ten years, it has quietly become a popular place for international companies to…

Read more 16.09.2025

Top 10 countries for registering a crypto business 2025

By 2025, the launch and scale-up of a blockchain-driven venture would encounter a fragmented international framework, varied legal environments, and tough competitions for market share. A crypto business for sale or long-term operation is much more valuable when established in a jurisdiction harmonising tax treatment, operational clarity, and access to the fiscal system. The review…

Read more 16.09.2025

Buying Real Estate with Cryptocurrency: How and Where to Do It in 2025

Over the last decade, cryptocurrency has grown from a fringe digital experiment to an accepted global financial instrument. By 2025, there is hardly going to be anything weird about buying real-estate with crypto; in fact, it is increasingly legitimate and much-sought-after as a way to buy property—whether a posh penthouse in Dubai or a suburban…

Read more 25.08.2025

A Comprehensive Guide to the 10 Most Popular Gambling Licenses in 2025

As online gambling grows increasingly entrenched everywhere, the question of jurisdiction for becoming licensed has come to play a pivotal role in the view of many entrepreneurs and operators. The regulatory environment, tax system, and speed of application – all play an enormous role in profitability, not just legal compliance. In this guide for 2025,…

Read more 25.08.2025

Top 7 Countries to Buy Real Estate with Crypto

Not long ago, the very idea of purchasing a home with Bitcoin or other cryptos sounded like a crazy idea. Nevertheless, gradually, the real estate market keeps adapting to the cryptocurrency revolution. Today, in some areas, developers, agents, and even governments welcome crypto payments. Needless to say, it gives new possibilities for buyers. They can…

Read more 25.08.2025

Top 5 EU Jurisdictions for Obtaining an EMI License in 2025

In 2025, war will break out among the European nations to determine which is best placed to house the largest cluster of other innovative fintech companies. Important permissions to look out for include issuance of cards, provision of IBAN accounts, execution of electronic payments, and the full spectrum of digital financial services. The right jurisdiction…

Read more 18.08.2025

Benefits of St Kitts and Nevis Tax Residence

When it comes to finding a tax-friendly and cozy place for your undertaking, St Kitts and Nevis could be the perfect place. The place is very popular with international firms, remote employees, not to mention high-net-worth persons. The given twin-island Caribbean state boasts a reputation of a business-savvy jurisdiction with one of the most attractive…

Read more 17.08.2025

The Top 10 Crypto-Friendly Countries (2025)

The online asset sector is now growing afresh after its recent slump, with a catalytic effect of the surge of investor interest, greater trading volumes, and more robust institutional participation. On top of that, a number of jurisdictions have by now established themselves as key hubs for this activity. They contribute stable supervision, coherent operational…

Read more 17.08.2025