South Korean regulators are moving forward with plans to approve cryptocurrency investment by institutional investors, according to local media reports.
The South Korean Financial Services Commission (FSC) has announced plans to gradually roll out corporate investment in digital assets by allowing the issuance of real-name corporate trading accounts, the local news agency Yonhap reported on Jan. 8.
The regulator reportedly announced the initiative in conjunction with the FSC’s 2025 work plan to focus on financial stability and accelerate innovation.
While there is no legal restriction on issuing real-name accounts to corporations, local regulators have been de facto guiding banks not to issue them, the report said.
Lack of timeline specifics and previous controversy
According to Yonhap, the FSC will review a plan to gradually allow corporate crypto investments through discussions with the Virtual Asset Committee, which held its first meeting in November 2024.
There is no specific timeline for discussing the initiative, another local report suggested.
“There are many issues in the market at the moment, so we are coordinating the timing of the committee meeting and the topics of discussion, so it is difficult to give a definitive answer on the specific timing and content,” a source connected to the FSC’s crypto division reportedly stated.
FSC Secretary-General Kwon Dae-young at the briefing of the 2025 work plan. Source: Yonhap News
The latest reports add to the existing controversy regarding South Korea’s potential approval of corporate crypto investments.
In December 2024, the FSC denied reports that claimed it intended to publish a roadmap permitting corporate crypto accounts by year-end, adding that specific measures were yet to be finalized.
Related: Over 30% of South Koreans invest in crypto assets
Cointelegraph approached the FSC for comment regarding the latest reports but did not receive a response by the time of publication.
FSC official called South Korea to align with global crypto regulations
In addition to consideration of corporate crypto accounts, FSC Secretary-General Kwon Dae-young urged that…
..
