South Korea Removes Prohibition on Institutional Cryptocurrency Trading
The Financial Services Commission (FSC) of South Korea has recently declared its intentions to lift the current prohibition on crypto trading by financial institutions, signaling a significant shift for the nation’s digital currency market.
At present, the trade of cryptocurrencies in South Korea is limited to individual investors who have successfully passed real-name verification processes. Despite no formal regulations barring institutional trades, the FSC has not authorized banking services for crypto exchange accounts.
Revisions to the current regulations are on the horizon, with the FSC working in tandem with the Digital Asset Committee to phase in institutional participation. Initially, this will extend to non-profit entities.
Advancements in South Korea’s Digital Asset Framework
In a recent address, Korea Exchange Chairman Jeong Eun-bo touched on plans to consider spot ETFs starting in 2025. Speaking at the Securities and Derivatives Market Opening Ceremony 2025, he proposed that the exchange will
“use international examples for reference when considering new ventures, such as cryptocurrency ETFs, and seek out novel opportunities within the field of capital markets.”
The FSC is also focused on enabling security token offerings (STOs) and last year introduced the Virtual Asset Investor Protection Act aimed at safeguarding cryptocurrency investors.
Read more: Will iDEGEN Token Become the Leading AI Meme Coin in 2025?
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