- South Korea postpones business cryptocurrency investment decision until 2025.
- FSC hosts meetings in January to explore future crypto policy changes.
South Korea FSC has decided to reorganize to lift the ban on physical crypto investment until 2025. This country is among the highest in the global crypto market, but authorities banned all institutions from investing in virtual assets in December 2017. In January 2025, officials will hold a series of talks and meetings to decide whether to lift the ban.
The FSC has plans to consider allowing non-profit organizations to open real-name accounts for virtual assets. Once this is approved, government ministries, local governments, universities, and public institutions may be able to invest in corporations once the prevent has been raised. Nevertheless, the ongoing political tension could delay approval beyond the meetings in January, as lawmakers move to impeach President Han Duck-soo.
A history of caution in South Korea's crypto situation
The Ministry of Strategy and Finance together with the Ministry of Justice banned institutions from investments in crypto assets since 2017. South Korea His stance on digital currencies has been in the headlines since he announced the delay in the implementation of crypto gains tax until 2027.
Although the country actively participates in the crypto industry with a high percentage of crypto traders, its conservative approach to crypto investment may put institutions out of step with international trends. national. In the US, for example, people are now starting to explore digital currencies, including Bitcoinas strategic resources. With this trend continuing to grow, South Korea could be left behind if it is not more open to progressive policies on crypto.
South Korea has yet to confirm a physical investment in digital currency as the country continues its negotiations. Authorities expect to make major decisions by early 2025.
In terms of global growth and exposure blockchain technology within different areas including virtual wallets, in addition to creating a mainnet, it seems South Korea will regret if it continues to hesitate; At the moment, those abroad are trying to establish an economic structure centered around the industry that will support a framework for virtual assets. Finish.
