South Korea postpones decision on corporate crypto investments
South Korean regulators are delaying decisions on corporate accounts for cryptocurrency trading, with further discussions planned. The Financial Services Commission (FSC) is finalizing its policy review on corporate investment in digital assets, following extensive discussions. Approval for corporate crypto investments is anticipated by 2025, with plans for real-name corporate trading accounts. Although there is no formal ban on such accounts, banks have been guided not to issue them. The FSC is prioritizing other policy issues over corporate accounts at this time. The meeting also addressed the second phase of the crypto investor protection law, which aims to close regulatory gaps in asset issuance and disclosures. Additionally, discussions will begin on a regulatory framework for stablecoin transactions. A meeting is scheduled to address potential punitive measures for local exchange Upbit regarding Know Your Customer violations.
