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South Korea considers easing restrictions on corporate crypto trading, with plans to gradually issue real-name accounts to institutional investors. South Korea is set to allow corporations to invest in cryptocurrencies as the Financial Services Commission is considering a gradual approach to lifting restrictions, Yonhap News Agency reports, citing the regulator. Under the plan, companies will be able to open real-name accounts on crypto exchanges, starting with non-profit organizations. As of press time, South Korea’s crypto laws only allow retail investors with verified real-name accounts to trade. While there is no official ban on institutional investors, banks have been advised not to issue real-name accounts to corporations, the report notes. The FSC aims to change this, with plans to discuss the issue through the Digital Asset Committee. The financial regulator also plans to introduce measures that will allow fintech companies to grow. The goal is to improve collaboration between financial groups and fintech firms. There will also be improvements in how crypto exchanges are regulated, especially regarding the listing of tokens and the handling of stablecoins. Earlier in January, Chairman of the South Korea Exchange, Jeong Eun-bo, said the trading platform wants to “explore” crypto spot ETF approval in 2025 as reports indicate that the FSC also wants to allow companies to launch security token offerings. In his speech at the the Securities and Derivatives Market Opening Ceremony 2025, Jeong said the exchange will “benchmark overseas cases for new businesses such as cryptocurrency ETFs and explore new areas in the capital market.” Source: https://crypto.news/south-korea-to-allow-institutional-investors-to-trade-crypto-report/

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Filed under: News - @ January 8, 2025 11:23 am