TechFlow news, on December 3, according to the Korea Economic Daily, the Financial Services Commission of South Korea plans to release by the end of December a roadmap for opening corporate cryptocurrency transaction accounts. The first phase will allow non-profit legal entities such as central government agencies, local governments, public institutions, and universities to open real-name accounts. The second phase will permit won-denominated accounts for cryptocurrency exchanges and related enterprises, while account access for general businesses and financial institutions will be included in mid-to-long-term planning.
Previously, cryptocurrency donations received by institutions such as Seoul National University could not be liquidated due to the inability to open transaction accounts. It is reported that under the new policy, approximately 1 billion KRW worth of WEMIX tokens held by Seoul National University can now be converted into cash for use in university finances. Financial authorities stated that this measure aims to resolve issues involving cryptocurrencies held through non-discretionary means such as confiscation or donation, while also promoting the development of related industries.
