South Korea moves to lift corporate crypto trading ban #CriptoNews

South Korea is set to gradually lift its ban on corporate cryptocurrency trading, according to the latest announcement from the Financial Services Commission. The phased approach will begin with law enforcement agencies, non-profits, universities and school corporations being permitted to sell Bitcoin and Ethereum for the purpose of cashing out in the first half of the year.

In the second phase, listed companies and corporations will be allowed to buy and sell digital assets under a pilot programme. The expansion, expected in the latter half of the year, will be regulated under South Korea’s Capital Markets Act, providing a structured framework for professional investors.

The ban, imposed in 2017 to tackle speculation and financial crime, is being eased following the implementation of the Virtual Asset User Protection Act. Authorities argue that stronger safeguards now allow for regulated institutional participation, aligning with global trends where businesses are increasingly integrating digital assets.

To ensure a smooth transition, the Financial Services Commission will form a task force in collaboration with banks, regulators and crypto exchanges. The group will develop internal control standards and trading guidelines, ensuring South Korea’s corporate sector can engage in digital assets securely and transparently.

For more information on these topics, visit diplomacy.edu.