PANews reported on February 13 that according to Yonhap News Agency, the Financial Services Commission of South Korea (FSC) announced that it will promote the opening of real-name accounts of crypto assets for legal entities in three stages. This year, it will first open trading rights to non-profit organizations, law enforcement agencies and crypto exchanges, and plans to allow professional investment entities to make crypto investments in the second half of 2025.

Policy promotion details:

Phase 1 (first half of 2025):

• Law enforcement agencies (Prosecution Service, National Tax Service, Customs Service, etc.) have been allowed to open crypto accounts to handle the confiscation of criminal proceeds and auctions of tax-delinquent assets.

• Nonprofit organizations (such as designated endowment funds) are expected to be approved in Q2 2025 to accept and convert crypto donation funds.

• Crypto exchanges can obtain corporate accounts by Q2 2025 to convert platform fee income into fiat currency, but the exchanges’ selling behavior must be subject to government guidance and restrictions to prevent market volatility.

Phase 2 (second half of 2025):

• Professional investment entities (such as listed companies and registered professional investment institutions, about 3,500 of them) will be allowed to participate in the purchase and sale of crypto assets, but they must meet mandatory anti-money laundering (AML) requirements and be reviewed by banks and exchanges.

Phase 3 (Long-term plan):

• The full opening of crypto investments by ordinary enterprises is still in the medium- to long-term discussion stage, and the second phase of legislation needs to be completed, including stablecoin supervision, exchange operating rules, and cross-border crypto transaction monitoring.

Kim So-young, vice chairman of the Financial Services Commission, said that the second phase of crypto legislation will be accelerated, including the regulatory framework for stablecoins and security tokens (STOs), and the National Assembly will be pushed to pass relevant laws to promote the compliant development of the crypto industry.