South Korea’s Financial Services Commission (FSC) is reportedly considering lifting its effective ban on institutional cryptocurrency trading and also the FSC Crypto Trading Ban in South Korea. You can learn the full information about the South Korea FSC Crypto Trading Ban from Daily Crypto Signals.
South Korea’s Financial Services Commission (FSC) is reportedly preparing to ease its effective ban on institutional cryptocurrency trading.
According to a report by Yonhap News Agency, the FSC plans to gradually permit institutional investors to open trading accounts on local cryptocurrency exchanges. Currently, South Korean regulations only allow retail traders verified with their government-issued names to engage in crypto trading. While there has been no formal prohibition on institutional investors, the FSC has previously advised banks to restrict such entities from opening exchange accounts.
This policy shift aligns with President Yoon Suk-yeol’s campaign promise to foster growth in the local cryptocurrency market.
The ruling People Power Party has also expressed support for introducing spot cryptocurrency exchange-traded funds (ETFs) in South Korea, a financial product currently unavailable in the country.
The FSC intends to begin this initiative by allowing non-profit organizations to participate in crypto trading. Additionally, the commission plans to collaborate with the Digital Asset Committee, a policy advisory group, to establish a comprehensive regulatory framework.
As part of these evolving regulations, the FSC is considering amendments to the Financial Information Act. These changes aim to introduce a screening system for major shareholders of virtual asset service providers, focusing on stronger investor protection.
The FSC is also working on secondary regulations related to the Virtual Asset Investor Protection Act, which took effect in July of last year. This next phase will focus on stablecoins, token listings, and operational standards for cryptocurrency exchanges.
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