randomm

South Korea Wants to Lift Its Ban on Institutional Crypto Trading: Report

“We will work to align with global regulations in the virtual asset market,” said South Korea’s FSC Secretary-General Kwon Dae-young.

South Korea is set to relax its restrictions on institutional crypto trading, making a major policy shift as the government looks to support the nation’s crypto sector.

The country’s Financial Services Commission (FSC) plans to gradually grant institutions access to local crypto exchanges, starting with non-profit organizations, according to a translated Yonhap News Agency report.

For years, banking guidelines have limited institutional trading, even though no official ban exists. Currently, only retail traders in South Korea, verified through real-name accounts, are allowed to participate in crypto trading.

South Korea Wants to Lift Its Ban on Institutional Crypto Trading: Report

“We will work to align with global regulations in the virtual asset market,” said South Korea’s FSC Secretary-General Kwon Dae-young.

South Korea is set to relax its restrictions on institutional crypto trading, making a major policy shift as the government looks to support the nation’s crypto sector.

The country’s Financial Services Commission (FSC) plans to gradually grant institutions access to local crypto exchanges, starting with non-profit organizations, according to a translated Yonhap News Agency report.

For years, banking guidelines have limited institutional trading, even though no official ban exists. Currently, only retail traders in South Korea, verified through real-name accounts, are allowed to participate in crypto trading.
https://decrypt.co/299985/south-korea-lift-ban-institutional-crypto-trading