The Financial Services Commission of South Korea has announced measures to allow certain institutions to sell their crypto holdings, including universities and charities.
Crypto Sales for Universities and Charities
The FSC has confirmed that universities and charitable organizations in South Korea will be permitted to sell donated cryptocurrencies. This decision enables these institutions to convert digital assets into cash from the second quarter of this year. The policy change addresses previous regulatory limitations that prevented the sale of cryptocurrencies.
Crypto Exchanges Allowed to Sell Holdings
The FSC has also allowed domestic cryptocurrency exchanges to sell digital assets received as transaction fees, assisting in managing expenses such as payroll and taxes. A standardized ‘Sales Guideline’ will be implemented to regulate the sale process and mitigate market disruptions.
Regulatory Expansion and Future Plans
Since the introduction of South Korea’s first crypto regulatory law last July, the FSC has been developing a structure for corporate participation in digital asset trading. Planned pilot programs will enable approximately 3,500 companies and registered professional investors to open real-name crypto trading accounts in the latter half of the year.
The regulation of crypto sales and institutional asset trading marks a significant step in integrating digital assets into South Korea's financial system. The planned measures are expected to facilitate corporate crypto transactions and promote the growth of the digital economy.
