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South Korea seeks to lift ban on institutional trading of cryptocurrencies: report
South Korea plans to ease its ban on institutional cryptocurrency trading, according to the Financial Services Commission (FSC). The FSC will collaborate with the Digital Asset Committee to allow non-profits to trade first, gradually expanding access. Currently, only verified retail traders can participate due to existing regulations. This move aligns with President Yoon Suk-yeol’s pro-crypto agenda, which includes promoting crypto exchange-traded funds. The FSC also aims to update laws to regulate stablecoins, exchanges, and token listings, while introducing shareholder screening for virtual asset service providers. This marks a significant step in developing South Korea’s crypto sector.