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May 4, 08:42 AM
South Korea’s Financial Services Commission Approves New Crypto Sale Rules with AML Controls Ahead of June 3 Election
Korea
Regulation
Crypto
World

South Korea’s Financial Services Commission Approves New Crypto Sale Rules with AML Controls Ahead of June 3 Election

Authors
  • Bitcoin.com News
  • Cointelegraph
  • Wu Blockchain
4

South Korea is set to implement new regulations governing the sale of virtual assets by non-profit organizations and virtual asset exchanges starting June 1, 2025. The Financial Services Commission (FSC) announced that these entities will be permitted to sell virtual assets legally, provided they establish an internal review system. The 4th Virtual Asset Committee introduced guidelines aimed at preventing practices such as 'listing beams,' enforcing circulation limits, and tightening anti-money laundering (AML) controls. This regulatory update coincides with the upcoming presidential election on June 3, where candidates from various parties have proposed virtual asset-related policies. The changes are expected to increase corporate involvement in digital asset trading while enhancing user protections in South Korea, where an estimated 16 million virtual asset investors represent approximately 36% of the country's voters.

Written with ChatGPT (GPT-4).

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