South Korea’s Financial Services Commission to Let Non-Profits and Exchanges Sell Crypto Starting June
South Korea’s financial watchdog said non-profit organizations and virtual asset exchanges will be able to sell their crypto holdings starting in June under new rules aimed at tightening oversight while enabling operational flexibility.
In February, the Financial Services Commission (FSC), the country’s top financial regulator, revealed it was planning to lift a ban imposed in back in 2017 that restricted corporations and banks from trading cryptocurrencies a bid to avoid “overheated speculation.” Details of the process were agreed on earlier this month, the FSC said in a statement on its website.
Under the new framework, non-profits must meet a strict set of conditions, including at least five years of audited operations and the…
