🔥 South Korea Reviews Rules on Institutional Crypto Investments
posted 17 hr ago
South Korea might be opening the doors for institutional investors to trade cryptocurrencies, marking a big change in the country's approach to digital assets.
According to local media, the Financial Services Commission (FSC) is looking into relaxing its long-standing ban, aiming to bring more stability and attract international investments to the Korean crypto market.
This potential policy shift aligns with one of President Yoon Suk-yeol’s key election promises: promoting the local crypto sector.
Yoon, along with the ruling People Power Party, has been pushing for broader changes in the crypto landscape, including the launch of spot crypto exchange-traded funds (ETFs) to be traded locally, a feature currently unavailable in South Korea.
Since 2017, South Korea has maintained tight rules on crypto, including banning initial coin offerings (ICOs) and requiring traders to verify their identities.
But with cryptocurrencies becoming a key player in global finance, the FSC seems ready to reconsider its stance.
A representative from the FSC noted that the regulator intends to promote the advancement of the financial investment industry in order to support the strengthening of the role of the capital market.
Financial Services Commission Secretary-General Kwon Dae said:
For now, it’s a waiting game as regulators and market participants prepare for what could be a groundbreaking shift in the Korean crypto scene.
This potential policy shift aligns with one of President Yoon Suk-yeol’s key election promises: promoting the local crypto sector.
Yoon, along with the ruling People Power Party, has been pushing for broader changes in the crypto landscape, including the launch of spot crypto exchange-traded funds (ETFs) to be traded locally, a feature currently unavailable in South Korea.
Since 2017, South Korea has maintained tight rules on crypto, including banning initial coin offerings (ICOs) and requiring traders to verify their identities.
But with cryptocurrencies becoming a key player in global finance, the FSC seems ready to reconsider its stance.
A representative from the FSC noted that the regulator intends to promote the advancement of the financial investment industry in order to support the strengthening of the role of the capital market.
Financial Services Commission Secretary-General Kwon Dae said:
Regarding IPOs, we plan to improve the system by expanding the mandatory holding commitments of institutional investors and strengthening the qualifications of institutions participating in demand forecasting in order to increase the rationality of the public offering price within the first half of the year.
While no exact timeline has been given, the news has already sparked excitement among crypto enthusiasts and industry players. If implemented, the move could position South Korea as a major hub for digital asset trading in the region.
For now, it’s a waiting game as regulators and market participants prepare for what could be a groundbreaking shift in the Korean crypto scene.
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