South Korea Greenlights Expanded Crypto Access for Professional Investors
2025-07-18 15:58:50
Main Idea
South Korea's Financial Services Commission (FSC) will implement a two-phase regulatory framework in late 2025 to expand crypto market access for professional investors, while maintaining strict compliance with AML and KYC rules.
Key Points
1. The FSC's new framework will allow up to 3,500 companies with at least 5 to 10 billion KRW in capital to participate in the crypto market.
2. South Korea is shifting away from its 2017 regulatory stance, reflecting its growing role as a crypto powerhouse in Asia.
3. Over 30% of South Korea's population holds crypto accounts, surpassing the number of traditional stock investors (around 14 million).
4. Daily crypto trading activity in South Korea sometimes exceeds $12 billion, with the Bank of Korea cautiously supportive of stablecoins.
5. The regulatory changes aim to balance market expansion with compliance, focusing on AML and KYC requirements.
Description
Kim Sung-jin (head of the Financial Services Commission) clarified that there’s no objection to overseas firms opening crypto accounts if they are properly registered as professional investors in South Korea At the start of June, nonprofits and universities were already allowed to convert crypto donations under strict compliance and AML (Anti-Money Laundering) and KYC (Know Your Customer) rules A few months ago, it was reported that over 16 million South Koreans (roughly 32% of the population) h...
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