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South Korea’s Financial Services Commission (FSC) is set to lift a long-standing ban on institutional crypto trading. This decision follows a surge in global market participation and increasing demand from domestic companies. Restrictions placed in 2017 aimed at curbing speculation and money laundering will now be eased, allowing more entities to engage in virtual asset transactions.
Non-profit organizations, including charities, universities, and law enforcement agencies, will be able to sell virtual assets by mid-year. Listed companies and professional investors will gain full access to crypto trading in the latter half of the year. The move aligns with regulatory developments worldwide, positioning South Korea as a key player in the evolving blockchain economy.
The enforcement of the Virtual Asset User Protection Act provides a framework for safeguarding investors. Authorities recognize that major economies are welcoming institutional participation in crypto markets. With this shift, South Korea aims to foster innovation and meet the growing demand for blockchain-related businesses.
