Cryptocurrency Q&A
Is Bitcoin illegal in Korea?
Is Bitcoin illegal in Korea?
CryptoWizard
Sat Mar 30 2024
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5 answers
871
Excuse me, I'm a bit confused about the legal status of Bitcoin in Korea. I've heard conflicting reports about whether it's considered illegal or not. Could you please clarify this for me? I'm interested in investing in cryptocurrencies, but I want to make sure I'm doing so within the legal framework of the country. Thank you for your time and assistance.
5 answers
Alessandra
Mon Apr 01 2024
South Korea has taken a stance against cryptocurrencies since 2017.
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Michele
Mon Apr 01 2024
The country has banned financial institutions from investing in crypto, indicating a cautious approach towards the volatile asset class.
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EthereumEagle
Sun Mar 31 2024
Cryptocurrencies, despite their popularity, are not recognized as financial assets in South Korea.
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CharmedSun
Sun Mar 31 2024
This regulatory framework reflects the authorities' desire to protect investors and maintain financial stability.
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DondaejiDelightfulCharmingSmile
Sun Mar 31 2024
Despite the ban, crypto enthusiasts and investors still find ways to access and trade cryptocurrencies, indicating a strong underlying demand.
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