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South Korea's Financial Services Commission (FSC) plans to ease restrictions on institutional crypto investments, allowing legal entities to invest in cryptocurrencies this year. The FSC will consider issuing real-name accounts to corporations and aims to enhance collaboration between financial institutions and fintechs. Additionally, the regulator is set to promote the Virtual Asset User Protection Act and improve self-regulation to protect investors while aligning with global crypto regulations.
South Korea's Stock Exchange chairman, Jeong Eun-bo, announced plans to explore crypto-based ETFs in 2025 as part of a strategy to enhance market value amid ongoing economic challenges. Despite a ban on crypto ETFs since 2017, recent discussions by the Financial Services Commission indicate a potential regulatory shift influenced by the success of overseas crypto products. However, new regulations are currently stalled due to a political crisis following the impeachment of President Yoon Suk Yeol.
The chairman of the Korea Exchange, Jeong Eun-bo, has urged South Korea to quickly institutionalize its crypto market to enhance competitiveness amid ongoing political turmoil that has stalled regulations until 2025. He emphasized the need for lawmakers and financial institutions to recognize the growing influence of digital assets, warning that continued treatment of cryptocurrencies as speculative could hinder market development. Despite calls for revitalization, all crypto-related policies remain on hold due to the political crisis, with discussions expected to resume in early 2025.
Eun-Bo Jeong
People
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