South Korea’s FSC to Roll Out Three-Phase Plan for Corporate Crypto Trading: Report
The Financial Services Commission (FSC) of South Korea is set to introduce a phased approach to granting corporations access to crypto trading, marking a major shift in the country’s regulatory stance. The financial regulator aims to gradually integrate businesses into the digital asset market while ensuring safeguards against financial risks.
Phase 1 Will Include Limited Access for Key Entities
As per local news reports, the FSC announced its plans following the third meeting of the Virtual Asset Committee on February 13. Initially, law enforcement agencies, non-profit organizations, and virtual asset exchanges will be permitted to open real-name crypto accounts for specific use cases.
Authorities, including the prosecution, the National Tax Service, and Korea Customs, have already been allowed to open accounts since November 2024 to facilitate asset confiscation and tax enforcement. Non-profits will gain access in Q2 2025 to handle crypto donations, though they will need to establish internal controls for fund management. Exchanges, meanwhile, will be permitted to convert fee revenue into fiat currency, but their ability to sell assets will be restricted under regulatory guidelines to prevent market manipulation.
1. First Half of the Year
— S
– Virtual Asset Exchanges: Allowed to sell and liquidate Bitcoin held in KRW markets through corporate real-name accounts.
– Non-Profit Organizations & Universities: From Q2, corporate real-name accounts will be issued to ensure transparency in…PHIΞ (@crypto_sis) February 13, 2025
Gradual Expansion to Corporations
In the second half of 2025, professional investment firms—including listed companies and certified investment entities—will be allowed to trade crypto. However, they must comply with stringent anti-money laundering (AML) requirements and undergo screening by banks and exchanges.
The final stage, which would extend access to general corporations, remains under long-term review. Authorities emphasize that additional regulatory frameworks, such as stablecoin regulations and foreign exchange monitoring, must be established before broader participation is approved.
FSC Vice Chairwoman Kim So-young stated that discussions on the second phase of crypto regulations will be prioritized, focusing on stablecoins and security token offerings. She also reaffirmed the government’s commitment to fast-tracking legislative amendments needed for full corporate adoption of digital assets.
The post South Korea’s FSC to Roll Out Three-Phase Plan for Corporate Crypto Trading: Report appeared first on Cryptonews.
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South Korea’s FSC to Roll Out Three-Phase Plan for Corporate Crypto Trading: Report
The Financial Services Commission (FSC) of South Korea is set to introduce a phased approach to granting corporations access to crypto trading, marking a major shift in the country’s regulatory stance. The financial regulator aims to gradually integrate businesses into the digital asset market while ensuring safeguards against financial risks.
Phase 1 Will Include Limited Access for Key Entities
As per local news reports, the FSC announced its plans following the third meeting of the Virtual Asset Committee on February 13. Initially, law enforcement agencies, non-profit organizations, and virtual asset exchanges will be permitted to open real-name crypto accounts for specific use cases.
Authorities, including the prosecution, the National Tax Service, and Korea Customs, have already been allowed to open accounts since November 2024 to facilitate asset confiscation and tax enforcement. Non-profits will gain access in Q2 2025 to handle crypto donations, though they will need to establish internal controls for fund management. Exchanges, meanwhile, will be permitted to convert fee revenue into fiat currency, but their ability to sell assets will be restricted under regulatory guidelines to prevent market manipulation.
1. First Half of the Year
— S
– Virtual Asset Exchanges: Allowed to sell and liquidate Bitcoin held in KRW markets through corporate real-name accounts.
– Non-Profit Organizations & Universities: From Q2, corporate real-name accounts will be issued to ensure transparency in…
Gradual Expansion to Corporations
In the second half of 2025, professional investment firms—including listed companies and certified investment entities—will be allowed to trade crypto. However, they must comply with stringent anti-money laundering (AML) requirements and undergo screening by banks and exchanges.
The final stage, which would extend access to general corporations, remains under long-term review. Authorities emphasize that additional regulatory frameworks, such as stablecoin regulations and foreign exchange monitoring, must be established before broader participation is approved.
FSC Vice Chairwoman Kim So-young stated that discussions on the second phase of crypto regulations will be prioritized, focusing on stablecoins and security token offerings. She also reaffirmed the government’s commitment to fast-tracking legislative amendments needed for full corporate adoption of digital assets.
The post South Korea’s FSC to Roll Out Three-Phase Plan for Corporate Crypto Trading: Report appeared first on Cryptonews.
Read More
Chinese L1 Blockchain Conflux Teases New Upgrade, Eyes Offshore Yuan Stablecoin