BTC $67,121.00 (+1.45%)
ETH $1,943.72 (+0.62%)
XRP $1.40 (-0.18%)
BNB $607.01 (+0.69%)
SOL $82.99 (+3.34%)
TRX $0.28 (+1.85%)
DOGE $0.10 (+0.26%)
BCH $545.12 (-0.27%)
ADA $0.27 (+1.20%)
LEO $8.71 (+0.68%)
HYPE $29.24 (+3.53%)
XMR $330.37 (-0.01%)
LINK $8.57 (+0.85%)
CC $0.16 (-1.35%)
XLM $0.16 (+0.47%)
RAIN $0.01 (-0.60%)
ZEC $256.75 (-0.64%)
HBAR $0.10 (+1.55%)
LTC $53.32 (+2.09%)
AVAX $9.07 (+3.49%)

Andorra vs South Korea

Crypto regulation comparison

← Back to map | Andorra | South Korea
Andorra

Andorra

South Korea

South Korea

Legal
Legal

Andorra enacted the Digital Assets Act (Law 24/2022) providing a comprehensive framework for crypto. The AFA licenses exchanges, custodians, and stablecoin issuers. Aligning with EU MiCA.

South Korea is one of the world's largest crypto markets. The Virtual Asset Users Protection Act (VAUPA), effective July 2024, provides comprehensive investor protection including requirements for exchanges to hold user assets in cold storage and carry insurance. All VASPs must register with FIU and comply with strict AML rules under the Specific Financial Information Act. A 20% crypto gains tax (above KRW 2.5 million exemption, raised from the original 250K KRW threshold) has been deferred multiple times and is now scheduled for January 2027.

Tax Type Unclear
Tax Type Varies
Tax Rate N/A
Tax Rate 20%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Andorran Financial Authority (AFA)
Regulator FSC (Financial Services Commission), FSS, FIU (Korea Financial Intelligence Unit)
Stablecoin Rules Regulated under Digital Assets Act with specific stablecoin licenses
Stablecoin Rules Under development; stablecoins subject to VASP rules
Key Points
  • Digital Assets Act (Law 24/2022) effective Oct 2022
  • AFA licenses and regulates all digital asset service providers
  • Three categories of stablecoins with specific licensing requirements
  • Low electricity costs make mining attractive
  • Aligning regulations with EU MiCA framework
Key Points
  • Virtual Asset Users Protection Act (VAUPA) effective July 2024 — major investor protection law
  • VASPs must register with FIU and partner with real-name verified bank accounts
  • 20% national tax (22% effective incl. 2% local income surtax) above KRW 2.5M annual exemption (deferred to January 2027)
  • Exchanges must hold 80%+ of user assets in cold wallets and carry insurance/reserves
  • Only won-denominated trading pairs allowed on major exchanges (Upbit, Bithumb, Coinone, Korbit)
Sources
Sources