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Austria vs South Korea

Crypto regulation comparison

← Back to map | Austria | South Korea
Austria

Austria

South Korea

South Korea

Legal
Legal

Cryptocurrency is legal in Austria and regulated under the EU's MiCA framework. Since March 2022, crypto assets are taxed at a flat 27.5% rate on capital gains, aligned with other investment income. The FMA supervises crypto service providers.

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 Capital gains
Tax Type Varies
Tax Rate 27.5%
Tax Rate 20%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator FMA (Finanzmarktaufsicht)
Regulator FSC (Financial Services Commission), FSS, FIU (Korea Financial Intelligence Unit)
Stablecoin Rules Regulated under EU MiCA framework
Stablecoin Rules Under development; stablecoins subject to VASP rules
Key Points
  • Flat 27.5% tax on crypto capital gains since the 2022 eco-social tax reform
  • Crypto held before February 28, 2021 is subject to legacy rules (tax-free after 1 year)
  • FMA regulates VASPs under Austrian and EU law including MiCA
  • Exchanges must register and comply with AML/KYC obligations under FM-GwG
  • MiCA framework fully applicable from December 2024
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