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Greece vs South Korea

Crypto regulation comparison

← Back to map | Greece | South Korea
Greece

Greece

South Korea

South Korea

Legal
Legal

Cryptocurrency is legal in Greece and regulated under the EU framework. A 2024 tax reform established a 15% tax on crypto capital gains, replacing the prior uncertain treatment. The Hellenic Capital Market Commission oversees crypto service provider registration.

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 15%
Tax Rate 20%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator HCMC (Hellenic Capital Market Commission), Bank of Greece
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
  • 15% capital gains tax on crypto established under recent tax reforms
  • HCMC registers and supervises crypto service providers
  • Greece adopted EU AML directives for crypto businesses
  • MiCA framework applicable from December 2024
  • Crypto adoption grew during the 2015 financial crisis and capital controls
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