South Korea takes a major step in digital asset regulation! Starting June, nonprofits & virtual asset exchanges can freely trade digital assets, boosting corporate involvement while strengthening user protections. 🔗💰 New FSC guidelines mandate strict anti-money laundering
JUST IN: SOUTH KOREA’S 4TH VIRTUAL ASSET COMMITTEE ANNOUNCES NEW CRYPTO SALE RULES FOR NONPROFITS AND EXCHANGES, EFFECTIVE JUNE 1. Source: @cointelegraph https://t.co/EDO4J6K4Z6 https://t.co/jQQt0x8uE8
🇰🇷 LATEST: South Korea's 4th Virtual Asset Committee sets new rules for crypto sales by nonprofits and exchanges, effective June 1. Guidelines aim to prevent ‘listing beams,’ enforce circulation limits, and tighten AML controls. https://t.co/ENiuRzFVLS
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.