Is Zcash legal in South Korea?
Legal to own, but licensed Korean exchanges are legally barred from handling ZEC.
| Owning ZEC | Legal |
|---|---|
| Local exchanges | Not allowed |
| National rule | Exchanges barred from privacy coins |
| Regulator | Financial Services Commission (FSC); Korea Financial Intelligence Unit (KoFIU) |
| Last reviewed | 25 October 2026 |
The legal situation in South Korea
Under the amended Special Financial Transactions Act, in force from 25 March 2021, Korean VASPs may not handle 'dark coins' such as ZEC, XMR and DASH. Exchanges had already dropped ZEC: Upbit and OKEx Korea in 2019. Bithumb had listed ZEC in 2017. The law targets service providers; it does not criminalise private holding.
Key facts
- 2019-09-30: Upbit ended trading in ZEC, XMR, DASH and other privacy coins, citing money-laundering prevention.
- 2019-10-10: OKEx Korea ended support for privacy coins including ZEC, citing the FATF travel rule.
- 2020-11-03: FSC announced the dark-coin ban for VASPs.
- 2021-03-25: The amended Special Financial Transactions Act took effect; under the FSC's rules, VASPs may not handle privacy ('dark') coins.
- Tax: A 22% tax (20% income tax plus 2% local tax) on annual crypto gains above KRW 2.5 million is scheduled to start on 1 Jan 2027; the government's 2026 tax bill did not postpone it again, though the National Assembly still could.
What this means for you
Owning Zcash in your own wallet is legal, but regulated exchanges here do not list it or are being pushed to drop it. If you hold ZEC on an exchange, read what to do when an exchange delists Zcash and move it to a wallet you control. Only use buying routes that are legal where you live; see how to buy Zcash.
Sources
cointelegraph.com, financemagnates.com, scorechain.com, theblock.co, v.daum.net.
Sources are listed by publisher so you can look them up yourself; we do not link out.
General information, not legal or tax advice. Check the regulator's own website before acting.
Frequently asked questions
Is Zcash legal in South Korea?
Legal to own, but licensed Korean exchanges are legally barred from handling ZEC.
Can I buy Zcash on a local exchange in South Korea?
No. Crypto exchanges or privacy coins are not allowed.