The financial regulator of South Korea makes progress in its approach to cryptocurrency by allowing certain organizations and companies to open bank accounts for cryptographic transactions, according to the latest report.
This decision, which is part of the wider effort of the Financial Services Commission (FSC) to align with global standards, marks a significant change in policy which opens up new possibilities of participation of companies in the virtual asset market .
While the country’s financial companies remain prohibited from negotiating in crypto, the new measures are paving the way to other entities – including law enforcement organizations, universities and listed companies – to legally transform digital assets .
Expansion of access to crypto accounts but there are limits
The decision is based on the measures already taken at the end of 2024, when the National Tax Service and other government agencies began to sell confiscated digital currency assets. The vice-president of the Financial Services Commission (FSC), Kim So-Young, noted:
We have reached consensus on the authorization of companies’ participation in the cryptocurrency market, taking into account the overseas cases where the virtual asset ecosystem was mainly developed in companies.
From the second quarter of this year, non -profit organizations such as accredited charitable organizations and universities will also be authorized to open bank accounts for these purposes.
In addition, some 2,500 listed companies and professional investors will have access to the market by the middle of the year, provided that they respect the directives to come to prevent money laundering and ensure transparency of transactions.
Interestingly, despite these developments, the FSC continues to apply strict limits for traditional financial institutions. Banks, brokerage houses and other financial companies are always prohibited from buying or selling cryptocurrencies, in particular by offering ETF supported by Crypto.
The regulator has cited continuous concerns about market risks and the potential for speculative negotiation. According to the report, for the moment, financial companies must count on existing executives and refrain from having virtual assets directly.
The regulator has said that any transaction approval for corporate accounts will depend on rigorous screening processes, ensuring that only the sources of verified funds and the clearly defined transaction objectives will gain green light.
Institutional crypto sales: the new SFC directive
In addition to access to businesses, the South Korea Financial Services Commission (SFC) plans to allow institutions to sell their digital asset donations.
This change, which takes place in the second half of 2025, will allow charitable organizations and universities to sell crypto donations which were previously restricted. SFC instruction Read:
During the second half, a pilot test will be carried out for accounts for investment and financial purposes for certain institutional investors with risk -taking capacities.
These measures mark a significant change in the approach of South Korea in terms of cryptographic regulation, because the country continues to gradually open its digital asset ecosystem while implementing strict surveillance measures.
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