South Korea tightens the rules on digital asset transactions as it is preparing to allow institutional players in the encryption market, as it provides new guidelines for non -profit encryption sales and a tougher exchanging standards.
On May 20, the Financial Services Committee (FSC) in South Korea He said The finishing touches were placed on new measures at the fourth virtual assets committee meeting.
It is scheduled to enter in June, the updated bases offer both non -profit organizations and the exchange of virtual assets to sell encrypted currencies, but under new compliance standards.
Non -profit entities must have at least five years of financial history audited to receive and sell virtual asset donations. They will also need to create internal donation review committees to assess the suitability of each donation and filter strategy.
To reduce the risk of money laundering, all donations must be directed through the verified Korean exchange accounts, while placing verification responsibilities on banks, exchanges and non -profit organizations themselves.
Moreover, only the cryptocurrencies listed in three major local exchanges will be qualified, and the liquidation is expected to take place as soon as they are received.
Related to: South Korea presidential hopes support the codification of investment funds circulating in Bitcoin
Exchange of sales to be restricted
The exchange of encryption will be allowed to liquidate the user fees paid in the encryption, but only to cover the operational costs. Sales will be placed on daily limits, usually no more than 10 % of the total planned amount.
Moreover, sales of the best 20 symbols will be allowed through the maximum market scale through five victory exchanges. More importantly, exchanges are prevented from selling symbols on their own platforms to prevent conflicts of interests.
South Korea is also tightening the criteria for inserting digital assets. The revised rules aim to reduce instability from the sudden price mutations by requesting the minimum supply before allowing the distinctive symbol to trade and limit the market orders temporarily.
The so -called Zombie codes (with low size and delicate market jugs) and Micoins Without a clear interest you will now face more scrutiny. For example, the exchanges should spoil the distinctive symbols if they fail to meet the criteria of liquidity or the thresholds of society’s participation.
Starting in June, exchanges and non -profit organizations can apply for real accounts to facilitate these sales. Later this year, FSC plans to expand real accounts to listed companies and professional investors.
Cointelegraph called the South Korea digital asset exchange association for comment, but she did not receive a response through publication.
Related to: Redotpay enters South Korea with encryption cards
The Southern Korean candidates pay the agenda of the supporter
South Korea Democratic Party leader Lee Jay Meong I suggested launching stablecoin It was linked to the Korean victory, with the aim of curbing the capital and strengthening the country’s financial independence.
Speaking to a modern policy forum, Li -Stablecoin said in winning can help maintain local wealth and reduce dependence on digital currencies supported from abroad such as USDT (USDT (USDT) And USDC (USDC).
The initiative is part of the broader LEE pushing for digital assets, which also includes Vicious boxes of encryption (ETFS).
His opponent, Kim Moon Soo of the Ruling People’s Force Party, also expressed Support for the introduction of investment funds circulating in SpotThe two -party momentum indicates this issue.
publish_date
