Guyana vs South Korea
Crypto regulation comparison
Guyana
South Korea
No Regulation
Legal
Guyana has no specific cryptocurrency regulation. The Bank of Guyana has noted crypto is not legal tender but has not banned it. No income or capital gains tax exists.
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
No tax
Tax Type
Varies
Tax Rate
0%
Tax Rate
20%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Bank of Guyana
Regulator
FSC (Financial Services Commission), FSS, FIU (Korea Financial Intelligence Unit)
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
Under development; stablecoins subject to VASP rules
Key Points
- No specific cryptocurrency legislation
- Bank of Guyana warns crypto is not legal tender
- No income or capital gains tax in Guyana
- No licensing framework for crypto businesses
- Limited crypto adoption
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)