South Korea Reverses Course: Institutions Get Green Light for Crypto Trading

• During the first phase of implementation, non-profit organizations such as charities, universities, and law enforcement agencies, will be authorized to open real-name verified accounts on cryptocurrency exchanges
• The second phase will introduce a pilot program allowing approximately a few thousand listed companies and professional investors to access the crypto markets
• Traditional financial institutions are still prohibited from engaging in cryptocurrency-related activities

South Korea’s Financial Services Commission (FSC) has announced plans to gradually lift the ban on institutional cryptocurrency trading, which has been in place for the last 8 years. 

This policy shift aims to align with global trends and address the growing domestic demand for blockchain-based financial products.

Turns out, they’re doing this in two stages, split into the first and second half of the year. 

In the first half of the year, nonprofits like charities, universities, and law enforcement agencies, will be permitted to open real-name verified accounts on cryptocurrency exchanges. This will enable the said institutions to manage and liquidate crypto donations more effectiv…

The post South Korea Reverses Course: Institutions Get Green Light for Crypto Trading appeared first on Coin Edition.