Prohibits Universities from Converting Crypto Donations to Cash

- South Korean financial authorities are barring universities from opening corporate accounts for #cryptocurrency transactions, preventing them from converting cryptocurrency donations into cash.

Concerns Over Money Laundering

- The local outlet Chosun Ilbo reported that financial authorities are worried that corporate accounts, which lack the individual verification associated with personal accounts, could facilitate money laundering. The Korean Financial Intelligence Unit (KoFIU) and the Ministry of Education are expected to maintain their stance against allowing universities to open such accounts.

Universities Struggle with Crypto Donations

- This prohibition follows requests from some universities seeking to open corporate accounts to convert substantial