South Korea's Financial Services Commission (FSC) is set to lift a long-standing ban that prevented institutions from trading cryptocurrencies, which was imposed in 2017 to combat speculative trading and money laundering. This decision responds to a global surge in cryptocurrency participation and aims to create a more favorable market for domestic companies engaging with blockchain-related businesses. Non-profit entities such as charities, educational institutions, and law enforcement agencies will be permitted to sell their virtual assets in the first half of the year. By the second half, listed companies and professional investors will also be allowed to engage in cryptocurrency transactions. The FSC's move follows the introduction of the Virtual Asset User Protection Act, which aims to safeguard users in the evolving crypto landscape, signaling a significant shift in South Korea’s regulatory stance on digital assets.

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