South Korea Eases Institutional Crypto Trading Restrictions
- The FSC plans to gradually grant institutions access to local crypto exchanges.
- The Virtual Asset User Protection Act mandates exchanges store user funds in financial institutions.
- New regulations are planned for stablecoins, crypto exchanges, and token listings.
- The Special Financial Transactions Act will be revised to review major shareholders’ eligibility.
The gradual institutional access to crypto trading could increase market participation, aligning South Korea with global standards. The revised Special Financial Transactions Act enhances transparency and investor confidence by scrutinizing major shareholders in virtual asset companies.
