South Korea is taking steps to expand the cryptocurrency market beyond individual investors by first allowing nonprofit organizations to liquidate their virtual assets, and widening the scope to crypto trading of general corporations later on this year.
The Financial Services Commission announced Thursday that it will allow the issuance of real-name accounts for nonprofit organizations for the purpose of cash conversion of digital coins in the first half of the year.
Eligible entities include law enforcement agencies like the National Tax Service that hold cryptocurrencies seized from unlawful activities, as…
