According to ChainCatcher, the Financial Services Commission of South Korea plans to release a roadmap for the opening of corporate cryptocurrency trading accounts at the end of December, according to the Korea Economic Daily. The first phase will allow non-profit legal entities such as central government departments, local governments, public institutions and universities to open real-name accounts. The second phase will allow related companies such as cryptocurrency exchanges to open won accounts, while the opening of accounts for general companies and financial institutions will be included in the medium- and long-term plan.
Cryptocurrency donations previously accepted by institutions such as Seoul University could not be cashed due to the inability to open trading accounts. It is reported that the approximately 1 billion won WEMIX tokens held by Seoul University will be convertible into cash for school finances under the new policy. Financial authorities said the move is aimed at solving the problem of holding cryptocurrencies due to non-active factors such as confiscation or donations, while promoting the upgrading of related industries.