The Korean financial regulatory body, the Financial Services Commission (FSC), originally planned to announce this year whether to allow companies to open cryptocurrency accounts. However, the FSC announced today that the decision will be postponed until 2025, and it is expected to make a decision after the second virtual assets committee meeting scheduled for January next year. (Background: Oh no! South Korea's cryptocurrency capital gains tax is affected by the presidential impeachment case and may take effect as originally planned on New Year's Day 2025.) (Additional context: South Korea has postponed the implementation of cryptocurrency capital gains tax to 2027; will this affect Taiwan's tax processes?) Although South Korea is a major retail cryptocurrency trading nation, companies in South Korea are actually prohibited from engaging in cryptocurrency trading. Local regulations require investors to use real-name accounts from licensed banks that cooperate with cryptocurrency exchanges. Only five exchanges have established such partnerships, but banks typically prohibit companies from opening these accounts to comply with anti-money laundering guidelines. However, in November this year, the virtual assets committee established by the FSC held its first meeting to discuss lifting restrictions on corporate investment in cryptocurrencies and announced that relevant results would be published within this year. South Korea postpones corporate cryptocurrency account decision until 2025. However, according to NAVER, the FSC stated today that the decision regarding whether to allow companies to open cryptocurrency accounts will be postponed until 2025. Following the first virtual assets committee meeting, the second meeting scheduled for January next year is expected to revisit whether to allow the opening of virtual asset accounts for companies in Korean won. It is understood that the FSC originally planned to allow government agencies, local government agencies, public institutions, and universities as non-profit legal entities to open real-name accounts in phases, but the final plan has not yet been confirmed. Due to the recent impeachment political situation, the discussion results of the virtual assets committee may need to wait for further review by government agencies. Industry: Institutional entry can stabilize market prices. The ban on corporate investment in cryptocurrencies stems from a policy decided by the State Affairs Office through emergency administrative guidance in December 2017, which required coordination at the inter-ministerial level. At that time, at a vice-ministerial meeting chaired by the State Affairs Office, various ministries, including the Ministry of Strategy and Finance, the Ministry of Justice, the FSC, and the Ministry of Science and Technology Information and Communication, decided to prohibit financial institutions from holding, purchasing, or investing in cryptocurrencies. However, the industry generally believes that to prevent speculative overheating, corporations and institutions should be allowed to participate in the market as soon as possible. An industry insider stated: The participation of corporate and institutional investors in the market not only helps enhance market credibility but also has a positive impact on establishing a healthy trading culture. The financial strength of institutional investors helps stabilize market prices; if their participation is restricted, it may lead to increased market volatility, which in turn stimulates the speculative psychology of individual investors. Furthermore, reports indicate that as major countries like the United States accelerate the institutionalization of the cryptocurrency market, the delay in South Korea's domestic policy decisions has raised concerns about declining international competitiveness. Currently, as the application of blockchain technology, such as mainnet construction and virtual wallets, gradually expands, major countries such as the United States, Japan, and the European Union have built cryptocurrency ecosystems primarily based on corporations. Related Reports: South Korea plans to implement a 20% cryptocurrency capital gains tax in 2025; will Taiwan follow suit? No tax, no settlement for your crypto! South Korea issues an ultimatum to 17 crypto nationals in tax arrears. Will the decision on when to implement the 'Virtual Asset Tax Law' at the end of July in South Korea affect the market? "Is South Korea opening up corporate investment in cryptocurrencies? Authorities extend the decision to January next year, and the industry calls for loosening restrictions to stabilize the market." This article was first published on BlockTempo (the most influential blockchain news media).