South Korea Tightens Crypto Rules Ahead of Institutional Market Entry

[Digital Daily Reporter Park Ki-Rok] While virtual assets are gaining popularity as a means of financial investment among people in their 20s and 30s in Korea, accounting for nearly half of the current users, it has been revealed that there are many cases where people do not properly know the 'Virtual Asset Act'. On the 21st, the Financial Supervisory Service announced that a significant number of users in their 20s and 30s are included among t…

South Korea tightens crypto rules ahead of institutional market entry - WorldNL Magazine

South Korea is tightening rules around digital asset transactions as it prepares to allow institutional players into its crypto market, introducing new guidelines for nonprofit crypto sales and stricter listing standards for exchanges.On May 20, the Financial Services Commission (FSC) of South Korea said during its fourth Virtual Asset Committee meeting that it had finalized sweeping new measures.Set to take effect in June, the updated rules all…

South Korea to Tighten Crypto Rules Ahead of Institutional Investment Return

As South Korea prepares to lift its ban on institutional cryptocurrency investments, the government is introducing stricter anti-money…

South Korea tightens crypto rules ahead of institutional market entry

South Korea is tightening rules around digital asset transactions as it prepares to allow institutional players into its crypto market, introducing new guidelines for nonprofit crypto sales and stricter listing standards for exchanges. On May 20, the Financial Services Commission (FSC) of South...

South Korea Targets Crypto Money Laundering with New Customer Verification Measures

South Korea’s FSC tightens customer verification to combat money laundering in crypto. Virtual asset exchanges and banks must verify transactions to prevent money laundering risks. Real-name accounts for companies and investors will be assigned by the end of this year. On May 20, South Korea’s Financial Services Commission (FSC) decided to tighten customer identification for non-profit corporations and virtual asset exchanges. This measure is ta…