The Humanitarian Aid Organization World Vision Korea was the first nonprofit to sell crypto in South Korea after the country began with new policies around institutional crypto trading.
World Vision Korea sells 0.55 Ether (Eth), worth about 1.98 million wins ($ 1,436) in upbit, According to In a statement of June 1 from Dunamu, the parent company Crypto Exchange.
Ether, performed by chairman Myung-Hwan, was given as a result of a March campaign that asked Upbit users to provide crypto to help young people unable to cope with school items such as uniforms and bags.
During a meeting of May 20, the South Korean financial service commission Its policies have been updated to allow nonprofit organizations and virtual exchans Sell Cryptocurrencies under the new Compliance standards.
UPBIT, the country’s largest exchange, has seen volumes fall 34%, dropping from $ 561.9 billion to the fourth quarter of 2024 to $ 371 billion in this year’s first quarter, amid a broader market collapse, According to In an April Coingecko report.
The FSC to allow public companies to trade crypto
Starting June 1, non -trader in the country can now sell the crypto they received by Meet your customer and anti-money laundering regulations are observed.
Nonprofits should have at least five years of that -high -financial history to receive and sell crypto donations, while exchanges can only sell crypto to cover operating costs, trapped in sunny limits.
Later this year, the FSC will allow listed public companies and creatures registered as professional investors to buy and sell crypto.
That is estimated 16 million investorsAbout one third of the South Korean population, hold crypto accounts.
Related: South Korea allows Upbit with a 3-month ban on the delivery of new clients
South Korean public officials also reported on the handle and investment in crypto. The country’s ethical commission for government officials disclosed on March 27 that 20% of those -who -public officials Holds 14.4 billion wins ($ 9.8 million) in crypto, representing 411 of the 2,047 officials undergoing the country’s disclosure requirements that Hold crypto assets.
Crypto trading exploded in South Korea in 2017, driven partially by Anonymous account from businesses, foreign and minor;;;;;;;;;;;;;;;;;;;;;;; However, financial authorities responded by ordering crypto exchanges to partner with domestic banks and offer FIAT services only through verified real account names.
Magazine: Korea to lift Corporate Crypto Ban, Take care of Crypto Mining HDS: Asia Express
