South Korea's financial regulator: Non-profit organizations and exchanges allowed to sell virtual assets starting June

TechFlow news, May 21 — According to the Financial Services Commission (FSC) of South Korea, the Virtual Asset Committee held its fourth meeting on May 1, finalizing guidelines for nonprofit organizations and virtual asset exchanges selling virtual assets. The policy will take effect starting June.

Under the guidelines, only nonprofit organizations that have operated for at least five years and undergone external audits may dispose of virtual assets, and only those listed on a minimum of three Korean won-based exchanges. For exchanges, only entities registered as Virtual Asset Service Providers (VASPs) may sell virtual assets, limited to the top 20 market-cap assets listed on five Korean won exchanges, with daily trading volume not exceeding 10% of the total amount planned for sale.