South Korea reportedly launched plans to introduce a new crypto regulatory framework. The country’s Financial Services Commission (FSC) plans to implement the new law in the second half of 2025.
According to local media outlets, this plan was announced in the second Virtual Asset Committee meeting recently held by the Financial Services Commission (FSC). The meeting’s purpose was to outline the key points to be addressed by the upcoming bill. It would focus on implementing the new crypto laws slated by the regulatory body.
At the meeting, FSC Vice Chairman Kim So-Young stated that the body is concluding its policy review and will gradually roll out the law upon agreement.
“We are officially beginning discussions on the second phase of the law. A comprehensive and systematic approach encompassing businesses, markets, and users is necessary.” Kim So-Young said in a statement.
Corporate Crypto Trading Regulations in Korea
At the meeting, the approval of corporate investment in digital assets, a long-standing issue, was also discussed. According to the Vice Chairman, the issue of allowing corporate accounts has undergone extensive review, passing through 12 subcommittee and task force discussions.
With the crypto community in South Korea calling for the approval of corporate crypto investments, sources say that the FSC intends to gradually allow such investments in 2025, starting with the issuance of corporate trading accounts.
The public expected the issue of corporate accounts to be discussed in the first Virtual Asset Committee meeting held in November 2024. Nonetheless, this was not the case, as the FSC failed to prioritize the issues and focused on other policies.
However, the FSC Vice Chair has assured that the policy process of the corporate crypto account is under review. The results will be reported soon, and steps to implement the policy will be followed promptly.
The law would address issues relating to crypto asset issuance and distribution, unfair trading practices, and the security of deposits. Many crypto enthusiasts and key industry players met the news with high optimism. Many took to the X platform to express their thoughts.
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