The South Korean Financial Services Commission (FSC) has announced plans to allow institutions, such as charities and universities, to sell their cryptocurrency donations starting in the second half of 2025. This decision marks a significant shift in the country’s cryptocurrency regulatory landscape, which has previously restricted such activities.
The move comes as part of a broader effort to modernize the country’s digital asset regulations. The FSC also plans to allow 3,500 corporations and professional investors to open “real-name” accounts on cryptocurrency exchanges in the first half of the year as part of a pilot program. This will pave the way for these institutions to invest and trade cryptocurrencies, subject to certain restrictions and safeguards.
The FSC’s decision is expected to boost the adoption of cryptocurrencies in South Korea and provide a much-needed avenue for institutions to monetize their crypto donations. It also reflects a growing global trend towards greater acceptance and regulation of cryptocurrencies. However, the FSC has emphasized that it will continue to closely monitor the market and take necessary measures to protect investors and maintain financial stability.
This development is likely to have a positive impact on the cryptocurrency market in South Korea, as it could lead to increased liquidity and trading volume. It also signals a more favorable regulatory environment for the cryptocurrency industry in the country, which could attract more investment and innovation. However, it is important to note that the regulations are still evolving, and investors should exercise caution and conduct thorough research before making any investment decisions.
