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South Korea: close to lifting institutional crypto trading ban
By Davide Grammatica
South Korea may soon return to making crypto trading services available to institutional entities, which have long been unable to approach CeFi
Institutions also want their share in South Korea
South Korea ‘s is one of the most important crypto markets in the world in terms of trading volumes. And it is all thanks to the activity of retail users , since, in fact, institutional entities have long been prevented from opening accounts on the various crypto exchanges by virtue of the country’s regulations governing digital activities.
Things, however, as some rumors released by the Yonhap news agency suggest, may soon change. In fact, the government is reportedly considering lifting the ban on institutional-style crypto trading at the initiative of the Financial Services Commission (FSC).
The country’s main financial regulator would be willing to gradually allow institutional investors to open trading accounts on the various cex, starting with nonprofit organizations.
South Korean potential
This revocation is one of the election promises of President Yoon Suk-yeol, who would aim in this way to promote the local crypto sector. To date, however, only retail traders are allowed to trade upon verification.
Yoon’s People Power Party, at the same time, would push for the launch of newBitcoin spot ETFs in Korea as well.
The FSC would be seeking to establish an updated regulatory framework, with a focus also on the regulation of stablecoins and token launches. For cex, on the other hand, there would be plans to introduce a new screening system for major shareholders in the various crypto service providers.
