South Korea plans to release comprehensive guidelines for institutional crypto investments by the third quarter of this year.
Meeting with Crypto Experts
This week, South Korea's Financial Services Commission held a meeting with local crypto industry experts, announcing the development of guidelines for institutional investors. Guidance for non-profit organizations and crypto exchanges is expected as early as April.
Shift Towards Milder Regulation
This move signifies significant change in South Korea's stance towards cryptocurrencies, especially after it previously maintained strict restrictions. Increased institutional involvement is expected to support growth and liquidity in the market.
FSC's Additional Initiatives
Furthermore, the FSC is working on the second phase of its crypto regulatory framework. The first phase was implemented last year, and the second phase will focus on stablecoins and oversight of crypto business operators.
The guidelines for institutional investors will represent a significant step in the development of the South Korean crypto market.
