South Korea vs Mozambique
Crypto regulation comparison
South Korea
Mozambique
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.
Mozambique has no specific cryptocurrency regulation. The central bank has not issued formal guidance on crypto. Crypto operates without specific regulatory oversight.
Tax Type
Varies
Tax Type
None
Tax Rate
20%
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
FSC (Financial Services Commission), FSS, FIU (Korea Financial Intelligence Unit)
Regulator
Banco de Moçambique
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
- No specific cryptocurrency legislation
- Central bank has not issued formal crypto guidance
- Crypto not recognized as legal tender
- Limited crypto adoption and infrastructure
- No licensing framework for crypto services