PANews, December 30 - According to the South Korean Financial Commission, the decision regarding the lifting of the ban on institutional cryptocurrency investment will be postponed to the second cryptocurrency asset committee meeting scheduled for January 2025. Previously, Financial Commission Vice Chairman Kim Jae-ryong had stated that a decision on the establishment of real-name accounts for legal entities would be made by the end of 2024, but the plan could not be completed on schedule due to delays in internal government reviews.
Industry insiders believe that allowing legal entities and institutional investors to participate in the cryptocurrency market will help 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, contrasting with the gradually improved legal entity cryptocurrency asset ecosystems in major countries such as the United States, Japan, and the European Union.