The Korean government decided crypto is legal as long as the people pay their taxes for dealing with. As for the time these words are being written it has been estimated that there are individuals who owe more than 12 million USD. From the Korean point of view cryptocurrencies are neither legal tender nor financial assets, and therefore taxing those is a bit of a difficulty they have encountered. Cryptocurrency exchange regulations in South Korea are strict and involve government registration and other measures overseen by the South Korean Financial Supervisory Service (FSS). Furthermore, lately the Financial Services Commission decided that all cryptocurrency exchanges would be required to register with the government and report transactions as requested. On the user side, it’s easier to trade and even profit from crypto in Korea, but on the other side, the provider’s, it’s a regulatory mess which could make you stop operating at any given time.