Can foreigners trade cryptocurrency in Korea?

Yes, foreigners can trade cryptocurrency in Korea, but there are real restrictions, mainly around the exchanges. Korea requires crypto exchanges to use the real-name verified bank account system, where your exchange account must link to a bank account in your own name at a partner bank, and this is the main hurdle for foreigners. The major exchanges like Upbit and Bithumb have historically limited or restricted foreign residents, and rules have tightened under anti-money-laundering regulations, so whether you can fully use a Korean exchange depends on your residency status, having an ARC, and a Korean bank account at the right partner bank. These requirements change, so check the specific exchange's current foreigner policy before counting on it. Many foreigners use international exchanges instead.

On tax, Korea has been moving toward taxing virtual asset gains, but the planned tax (with a sizable annual exemption) has been repeatedly debated and postponed, so the effective date keeps shifting and you should verify the current status at the time you actually trade. Gains on overseas exchanges and foreign-held assets can also carry their own reporting obligations. Because both the exchange access rules and the tax timeline change so often, confirm the latest position directly with the exchange and, for anything substantial, with a tax professional, rather than relying on older information.