World Vision Korea, a humanitarian organization, has become the first in the country to legally sell cryptocurrency, made possible by recent regulatory changes.
First Step for Nonprofits
World Vision Korea has marked a significant milestone as the first nonprofit in South Korea to legally sell cryptocurrency. This came about after new regulations were introduced by the country’s Financial Services Commission.
Details of the Ethereum Sale
The organization sold 0.55 Ether (ETH) on Upbit, totaling approximately 1.98 million won ($1,436). This transaction was part of a fundraising campaign aimed at supporting underprivileged children.
Future of Crypto in South Korea
The crypto reforms in the country enable nonprofits to legally liquidate crypto donations under certain conditions. Furthermore, this year will see an expansion of crypto trading access for publicly-listed companies and professional investors.
Thus, the legalization of cryptocurrency sales for nonprofits opens new horizons for charity and the use of crypto in South Korea.
