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South Korea vs Moldova

Crypto regulation comparison

← Back to map | South Korea | Moldova
South Korea

South Korea

Moldova

Moldova

Legal
No Regulation

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.

Moldova currently has no specific cryptocurrency legislation. The National Bank warns that virtual currencies are unregulated and user funds are not protected. Ownership and trading are legal but use as payment is prohibited. Moldova plans to introduce its first crypto law by 2026, aligned with EU MiCA regulation, including a 12% tax on crypto profits.

Tax Type Varies
Tax Type Income
Tax Rate 20%
Tax Rate 12% (planned)
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator FSC (Financial Services Commission), FSS, FIU (Korea Financial Intelligence Unit)
Regulator National Bank of Moldova
Stablecoin Rules Under development; stablecoins subject to VASP rules
Stablecoin Rules No stablecoin regulation
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)
Key Points
  • Virtual currencies not regulated; user funds not protected per NBM warning
  • Ownership and trading legal; use as payment prohibited
  • First crypto law planned by 2026, aligned with EU MiCA regulation
  • Planned 12% tax on crypto transaction profits
  • Law being drafted jointly by Finance Ministry, NBM, and AML authority
Sources
Sources