Asset × Country · Legal Status

Trade Pudgy Penguins in South Korea

STATUSLegal REGULATORFSC CLASSCrypto

Pudgy Penguins (PENGU) is tradable as a perpetual from South Korea: the legal status, working funding rails and the practical route are below.

Pudgy Penguins · PENGU-PERPCrypto · South Korea

Price · 24h—

Max leverage5x

Funding · APR—

In South KoreaAvailable

Canborsa fee0.07% per side

Pudgy Penguins in South Korea · at a glance

Legal

legal statusPudgy Penguins exposure from South Korea

max leveragePudgy Penguins on Canborsa

0.07%

0.14% round-tripCanborsa fee per side

funding intervalSettled while a position is open

What the law actually says

Is Pudgy Penguins trading legal in South Korea?

Spot crypto is legal in South Korea and sits inside a registration regime with two layers. On top of that, the Act on the Protection of Virtual Asset Users took effect on 19 July 2024 and added protection of user deposits and assets, rules against unfair trading such as price manipulation, and supervisory and sanctioning powers over VASPs. The regime is still tightening: on 11 August 2026 the cabinet approved a revision to the Enforcement Decree imposing stricter registration requirements and enhanced AML duties on VASPs.

What the contract is

The contract itself does not change by geography: a PENGU perpetual settles in USDC everywhere.

Regulator — South Korea

RegulatorFSC

Websitewww.fsc.go.kr

CryptoLegal

Funding · local rails

How to fund a trade from South Korea

The routes traders use to reach USDC before a deposit.

Rails · deposit routes

Rail

Status

Note

KRW bank transfer via real-name verified account

LIMITS

Only works on exchanges with a real-name bank partnership; most platforms lost KRW trading in the 2021 registration round.

Bank account opening by minors and by foreigners

BLOCKED

Blocked since a 2018 measure barring under-18s and foreigners from opening bank accounts for crypto deposits.

Availability · by platform

Platforms that offer Pudgy Penguins perps in South Korea

9 venues open Pudgy Penguins perps to traders in South Korea.

Platform

Sign-up

Max lev

Taker fee

ApeX

Browser Wallet Non-custodial

50x

0.05%

Aster

Browser Wallet Non-custodial

—

0.04%

Avantis

Browser Wallet Non-custodial

20x

0.045%

dYdX

Browser Wallet Non-custodial

5x

0.05%

gTrade

Browser Wallet Non-custodial

150x

0.035%

Helix

Browser Wallet Non-custodial

5.5x

0.0001%

Hyperliquid

Browser Wallet Non-custodial

5x

0.045%

Lighter

Browser Wallet Non-custodial

8x

0%

Pacifica

Browser Wallet Non-custodial

5x

0.04%

How to start trading Pudgy Penguins from South Korea

Four steps from sign-up to an open position.

01.

Sign up on Canborsa with email, X or a wallet

No document upload to open the account. Canborsa is non-custodial: your collateral stays under your own keys until a position opens.

Email X Wallet

02.

Fund the account with USDC

Deposit USDC over Canton, Robinhood Chain, Ethereum, Base, BNB Chain or Arbitrum. Canborsa takes no fiat, so buying the USDC happens wherever you normally buy stablecoins.

→

Robinhood Chain

03.

Open PENGU-PERP

Pick PENGU in the markets list. The ticket shows the live price, the current funding rate and max leverage 5x .

PENGU-PERPPerpetual · USDC marginLONG

04.

Choose Buy / Long, then set size and leverage

Buying $1,000 of PENGU at 5x uses $200 of collateral. Higher leverage moves the liquidation price closer to your entry: your exposure is the position size, whatever margin you posted. Set a stop-loss below your entry before you walk away.

Position · PnLexamplePnL: $3,425.52|+53.6%

Tax note — South Korea

A 22% tax applies to annual crypto gains exceeding 2.5 million KRW (approximately $1,740), effective January 1, 2027.

Frequently asked questions

What is the legal status of Pudgy Penguins trading in South Korea?›

Trading PENGU from South Korea: legal.

Who regulates PENGU markets in South Korea?›

Financial Services Commission (FSC), with the Korea Financial Intelligence Unit (KoFIU) as the registration and AML authority.

How is Pudgy Penguins taxed in South Korea?›

For South Korea residents trading Pudgy Penguins: A 22% tax applies to annual crypto gains exceeding 2.5 million KRW (approximately $1,740), effective January 1, 2027.

What payment methods work for PENGU trading in South Korea?›

South Korea traders can fund Pudgy Penguins positions using KRW bank transfer via real-name verified account.

What venues offer Pudgy Penguins trading to residents of South Korea?›

15 platforms serve South Korea for Pudgy Penguins trading, among them Aevo, ApeX and Aster.

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