Cryptocurrency rules continue to take shape in South Korea, where there is intense interest in Bitcoin and altcoins.
At this point, South Korea, which stated that it plans to allow companies to invest in cryptocurrencies, will introduce crypto market rules for companies by the 3rd quarter of this year.
South Korea’s financial authority, the Financial Services Commission (FSC), has announced plans to issue comprehensive guidelines for institutional cryptocurrency investments by the third quarter, The Block reported.
FSC Deputy Director Kim So-young stated that the agency aims to announce these guidelines by April for non-profit organizations (NGOs) and crypto exchanges, and by the third quarter of the year for public companies and professional investors.
In preparation for these changes, Kim called on banks and crypto exchanges to implement robust and seamless anti-money laundering measures.
The FSC announced in January that it would gradually lift the de facto ban preventing institutional investors from investing in cryptocurrencies.
*This is not investment advice.
