Top legal crypto exchanges working in South Korea in 2025

Yes, crypto exchanges are legal in South Korea, but they operate under strict regulations, what regulations? I will talk about that later below.1 The government has implemented measures to ensure compliance with anti-money laundering (AML) laws, enforce real-name verification for users, and establish comprehensive reporting requirements.2 Some of the major legal crypto exchanges in South…

mfahmy

February 18, 2025

crypto, cryptocurrency, exchange

Yes, crypto exchanges are legal in South Korea, but they operate under strict regulations, what regulations? I will talk about that later below.¹ The government has implemented measures to ensure compliance with anti-money laundering (AML) laws, enforce real-name verification for users, and establish comprehensive reporting requirements.²

Some of the major legal crypto exchanges in South Korea include:

Upbit

Upbit is a leading cryptocurrency exchange in South Korea, renowned for its user-friendly interface, extensive range of cryptocurrencies, and strong security measures. Here’s a quick rundown of its key features and strengths for crypto investors:

Key Features:

User-friendly interface: Upbit is designed to be easy to navigate, making it suitable for both beginners and experienced traders.

Wide range of cryptocurrencies: Upbit offers a diverse selection of digital assets for trading, providing investors with ample choices.

Robust security: The exchange employs advanced security technologies to safeguard user funds and data.

Mobile app: Upbit provides a mobile app for both iOS and Android devices, allowing users to trade on the go.

Customer support: Upbit offers customer support through its website and email, ensuring users can get assistance when needed.

Strong Points for Crypto Investors:

High liquidity: As one of the largest exchanges in South Korea, Upbit boasts high trading volumes, ensuring quick and efficient transactions.

Reliable platform: Upbit has a proven track record of providing a stable and reliable trading platform for its users.

Regulatory compliance: Upbit adheres to strict regulatory requirements in South Korea, providing a safe and compliant environment for investors.

Strategic partnerships: Upbit has formed strategic partnerships with various companies, enhancing its services and expanding its reach.

Overall, Upbit is a popular choice for crypto investors in South Korea due to its user-friendly platform, diverse asset selection, robust security, and regulatory compliance.

One of the largest and most popular exchanges in South Korea, known for its wide range of cryptocurrencies and user-friendly interface.³

Bithumb

Bithumb is one of the largest and most influential cryptocurrency exchanges in South Korea. Here’s a summary of what you should know about it:

Strong takeaways:

Extensive Cryptocurrency Selection: Bithumb offers a wide variety of cryptocurrencies for trading, catering to diverse investment interests.¹

User-Friendly Platform: The platform is designed to be easy to use, with intuitive interfaces for both beginners and experienced traders.²

High Liquidity: Bithumb boasts significant trading volumes, ensuring efficient and quick transactions for its users.

Security Measures: The exchange prioritizes security and employs various measures to protect user funds and data.³

Mobile App: Bithumb provides a mobile app for iOS and Android devices, enabling users to trade conveniently on the go.⁴

Customer Support: Bithumb offers customer support channels to assist users with any queries or issues they may encounter.⁵

Key Points for Crypto Investors:

Market Leadership: As one of the dominant exchanges in South Korea, Bithumb holds a prominent position in the market.

Established Reputation: Bithumb has been operating for a considerable period, building a reputation as a reliable platform.⁶

Diverse Trading Options: The exchange offers various trading options, including margin trading, allowing investors to employ different strategies.⁷

Focus on Compliance: Bithumb is committed to complying with relevant regulations in South Korea, providing a regulated environment for investors.⁸

Overall, Bithumb is a popular choice for crypto investors in South Korea due to its comprehensive features, user-friendly platform, strong security measures, and commitment to regulatory compliance.⁹

Another major player in the South Korean market, offering a variety of trading options and features.⁴

Korbit

Korbit is one of the pioneering cryptocurrency exchanges in South Korea, having been established in 2013.¹ It holds the distinction of being the country’s first Bitcoin (BTC) to Korean Won (KRW) exchange. While it has played a significant role in the development of the South Korean crypto market, it faces certain challenges in attracting global investors:

Key Features of Korbit:

Established Platform: Korbit has a long-standing presence in the South Korean crypto space, giving it a degree of credibility.²

User-Friendly Interface: The platform is designed to be relatively easy to navigate, catering to both new and experienced traders.

Focus on Security: Korbit emphasizes security measures to protect user funds and data.³

NFT Marketplace: Korbit offers a platform for users to buy, sell, and trade non-fungible tokens (NFTs).⁴

Regulatory Compliance: Korbit adheres to the regulatory requirements in South Korea, providing a compliant environment for local investors.⁵

Challenges for Global Investors:

Limited International Focus: Korbit primarily caters to the South Korean market, and its services and features may not be as tailored to the needs of global investors.⁶

Restricted Asset Selection: Compared to some larger global exchanges, Korbit may offer a more limited selection of cryptocurrencies, potentially restricting choices for international investors seeking diverse portfolios.

Language Barrier: The platform and customer support may primarily be in Korean, posing a challenge for non-Korean speaking investors.

Limited Trading Options: Korbit may offer fewer advanced trading options, such as margin trading or derivatives, which could be a drawback for some experienced global investors.

Accessibility for Foreigners: Due to regulatory requirements and KYC/AML procedures, it might be more challenging for foreign investors to open accounts and trade on Korbit compared to more internationally focused exchanges.

Overall, while Korbit has a strong foundation and reputation in South Korea, its focus on the local market and certain limitations may pose challenges for global investors seeking a more diverse, accessible, and feature-rich trading experience. A well-established exchange that has been operating in South Korea for several years, providing a platform for trading various cryptocurrencies.⁵

Coinone

A popular exchange that offers a range of services, including margin trading and staking options, thats all here.⁶

Regulations of crypto exchanges in south korea

It’s important to note that the regulatory landscape for crypto exchanges in South Korea is constantly evolving. In 2024, the government is planning to introduce further regulations to enhance investor protection and market stability.⁷ These regulations may include stricter requirements for exchanges in areas such as security, compliance, and user verification. South Korea has been actively developing its regulatory framework for cryptocurrency trading.¹ Here’s a summary of the key developments:

Increased Oversight: The government has been strengthening its supervision of crypto exchanges and related activities to enhance investor protection and market integrity.²
Anti-Money Laundering (AML) and Know Your Customer (KYC) Regulations: Stricter AML and KYC requirements have been implemented to prevent illicit activities such as money laundering and terrorist financing.³
Real-Name Verification: Crypto exchanges are mandated to ensure real-name verification for user accounts to increase transparency and accountability.⁴
Virtual Asset User Protection Act: This act, effective in 2024, aims to protect crypto users, regulate unfair trading practices, and empower financial authorities to supervise and impose sanctions on the virtual asset market.⁵
Taxation: The government is actively considering implementing a taxation framework for cryptocurrency gains, although the specifics are still under discussion.
Cross-Border Transactions: In 2025, a virtual asset transaction monitoring system will be established to regulate cross-border crypto transactions and prevent illegal activities.

Overall, South Korea is committed to creating a regulated and transparent environment for cryptocurrency trading while prioritizing investor protection and market stability.⁶