The Financial Services Commission (FSC) of South Korea has planned changes to cryptocurrency handling, allowing charities and universities to sell donated digital assets starting Q2 2025.
New Policy for Charities and Universities
From 2025, charities and universities in South Korea will be able to sell donated digital assets. Previously, this was not possible due to the lack of necessary legal frameworks. The new policy will enable these organizations to utilize the funds for their needs.
Pilot Program for Institutional Investors
A pilot program will begin in mid-2025, allowing 3,500 corporations to open accounts for real-name cryptocurrency transactions. This applies to publicly listed companies and professional investors under the Capital Markets Act but does not include financial institutions.
Expanded Banking Services for Crypto Firms
Banking institutions in South Korea have been required to offer new services to companies in the cryptocurrency industry. This includes allowing law enforcement to liquidate confiscated crypto assets. The new measures are aimed at enhancing transparency and preventing illicit operations.
These reforms highlight South Korea's desire to integrate cryptocurrencies into the country's financial system while addressing security and compliance issues.
