South Korea’s financial regulator has finalized new crypto guidelines as the country moves to open its digital asset market to institutions.
South Korea is tightening rules around digital asset transactions as it prepares to allow institutional players into its crypto market, introducing new guidelines for nonprofit crypto sales and stricter listing standards for exchanges.
On May 20, the Financial Services Commission (FSC) of South Korea said during its fourth Virtual Asset Committee meeting that it had finalized sweeping new measures.
Set to take effect in June, the updated rules allow both nonprofit organizations and virtual asset exchanges to sell cryptocurrencies, but under new compliance standards.
