South Korea postpones decision on corporate cryptocurrency investments

Financial Services Commission (FSC) of South Korea held its second virtual asset committee meeting on January 15th, and postponed making a decision on enterprise cryptocurrency trading accounts. FSC Vice Chairman Kim So-young stated that after 12 subcommittee and working group discussions, the relevant policy review is about to be completed.

The meeting focused on the implementation of the second phase of the cryptocurrency investor protection law, which involves regulatory requirements for cryptocurrency asset issuance, distribution, and information disclosure, and also plans to develop a specialized regulatory framework for stablecoin trading. South Korea plans to gradually open up enterprise cryptocurrency investment by 2025, and currently regulatory agencies are actually guiding banks not to issue relevant trading accounts to enterprises.