PANews reported on March 12 that according to The Block, South Korea's financial regulator announced on Wednesday that it plans to release comprehensive guidelines for institutional cryptocurrency investments in the third quarter. The Financial Services Commission made the announcement in a meeting with local crypto industry experts. While investment guidelines for listed companies and professional investors are expected to be released in the third quarter, the Financial Services Commission said its goal is to launch investment guidelines for non-profit organizations and cryptocurrency exchanges in April.

The Financial Services Commission first announced in January that it would gradually lift the de facto ban on institutional investors investing in cryptocurrencies. Last month, the regulator revealed that it intends to first allow charities and universities to sell their crypto assets in the second quarter. The upcoming detailed guidelines further solidify South Korea's shift in stance on cryptocurrencies, no longer strictly opposing crypto assets from entering traditional financial markets.

At the same time, the Financial Services Commission also began developing the second set of rules for the two-part cryptocurrency regulatory framework, the first of which went live last year. The second part of the cryptocurrency law will focus on stablecoins and regulating cryptocurrency business owners.