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Now They Can Sell Bitcoin and Cryptocurrency: Permission Granted to These Institutions! - Coin Bulletin
South Korea, which is preparing to lift the current Bitcoin and cryptocurrency ban targeting institutional investors, will start allowing some institutions to sell certain assets.
South Korea's financial regulator FSC announced that this year, in the first half, certain institutions will allow crypto asset sales due to increasing demand.
In this context, FSC will introduce new regulations that will allow universities and charities to sell the crypto assets they receive as donations in the second quarter of 2025. In addition, local crypto exchanges will be allowed to convert the crypto assets they receive in exchange for transaction fees into cash to cover operating expenses.
The regulatory authority stated that it will take a cautious approach against the risk of large-scale sales by exchanges conflicting with user interests. In this context, a common 'Sales Guide' will be created across the industry and gradually implemented.
Current laws in South Korea only allow individual investors who have verified their identity with official documents to trade cryptocurrencies. However, due to increasing institutional demand, the FSC has decided to make changes to this regulation. The growing number of companies, especially those wanting to develop new business models based on blockchain technology, played a significant role in this decision.
South Korea's major institutions are also getting involved in Bitcoin
In the second half of the year, pilot tests will be launched for companies and professional investors trading on approximately 3,500 exchanges to open accounts under their real names for investment purposes. In addition, law enforcement units will be allowed to open accounts for the purpose of liquidating seized crypto assets from illegal activities.
South Korea's first comprehensive crypto regulation came into effect last July. South Korea, which has been enforcing an actual ban on Bitcoin and cryptocurrency for institutions, began to take steps last month to open the way for changes.