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South Korea vs Mauritania

Crypto regulation comparison

← Back to map | South Korea | Mauritania
South Korea

South Korea

Mauritania

Mauritania

Legal
Restricted

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.

Mauritania has a restrictive stance on cryptocurrency. Islamic finance principles influence the financial regulatory approach. The central bank has warned against crypto use.

Tax Type Varies
Tax Type None
Tax Rate 20%
Tax Rate N/A
Exchanges Yes Yes
Exchanges No No
Mining Yes Yes
Mining No No
Regulator FSC (Financial Services Commission), FSS, FIU (Korea Financial Intelligence Unit)
Regulator Banque Centrale de Mauritanie
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
  • Central bank has warned against cryptocurrency use
  • Islamic finance principles influence regulatory approach
  • No specific cryptocurrency legislation
  • Limited crypto infrastructure
  • Financial institutions discouraged from dealing in crypto
Sources
Sources