Gradual Lifting of Restrictions for Corporations
South Korea plans to allow institutions and corporations to invest in cryptocurrencies. According to a report by Yonhap News Agency, the country’s financial regulator, the Financial Services Commission (FSC), is preparing gradual steps to remove existing restrictions. Under this plan, corporations will be able to open real-name accounts on cryptocurrency exchanges, starting with non-profit organizations.
Current Situation and Rule Changes
Currently, South Korean cryptocurrency laws only permit retail investors with verified real-name accounts to trade. Although there is no formal ban on institutional investors, banks have been advised not to issue real-name accounts to corporate entities. The FSC aims to change this policy and plans to discuss the new approach through its Digital Assets Committee.
Support for Fintech and New Regulations
The FSC intends to support the growth of fintech companies and enhance collaboration between financial groups and fintech firms. Planned changes also include stricter regulations for cryptocurrency exchanges, particularly regarding token listings and stablecoin manipulation. These measures aim to increase transparency and trust in the cryptocurrency market.
Plans for Crypto ETFs and Security Token Offerings
In early January, Jeong Eun-bo, chairman of the Korea Exchange, announced that the exchange plans to explore the possibility of approving cryptocurrency-focused spot ETFs in 2025. Meanwhile, the FSC is also considering allowing companies to launch security token offerings, opening new opportunities in the capital market.
Exploring New Opportunities in Capital Markets
During the ceremonial opening of the 2025 securities and derivatives market, Jeong emphasized that the Korea Exchange intends to examine international examples for new types of trades, such as cryptocurrency ETFs, and to explore new opportunities in the capital market.
Summary
South Korea is making significant strides toward integrating cryptocurrencies into institutional investments. The gradual implementation of these changes could position the country as a leader in cryptocurrency innovation and regulation, with the new policies promising enhanced transparency and collaboration between traditional financial institutions and technology firms.
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