TechFlow news, January 8 — According to The Block, the South Korean Financial Services Commission (FSC) stated it plans to gradually lift restrictions on institutional investors opening accounts at cryptocurrency exchanges. The FSC will collaborate with the Digital Asset Committee to initially allow participation by non-profit organizations. Currently, South Korea's Financial Information Use Act only permits retail investors with real-name verification to trade cryptocurrencies.
This move is part of President Yoon Suk-yeol's commitment to promoting the local crypto industry, as the government also advances plans for domestic listing of spot crypto ETFs. Additionally, the FSC will revise the Financial Information Act to introduce a major shareholder review system for virtual asset service providers (VASPs).
