The Financial Services Commission of South Korea has postponed its decision on lifting the ban on corporate cryptocurrency investment until the second Crypto Assets Committee meeting in January 2025, according to a report by PANews on December 30.
Background on the Decision
Initially, the commission’s vice chairman, Kim So-young, had stated that the opening of corporate real-name accounts would be decided by the end of 2024. However, internal government deliberations were delayed, causing the plan to be pushed back.
Industry Insights
Industry insiders believe that allowing legal entities and institutional investors to participate in the cryptocurrency market will improve market trust, stabilize prices, and promote a healthy trading culture. However, the delay in policy decisions may weaken South Korea’s competitiveness in the global crypto market, particularly compared to countries like the United States, Japan, and the European Union, which are gradually improving their legal entity crypto asset ecosystems.
Note
This article is for informational purposes only and does not constitute investment advice.
Source: Panewslab.com
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