On January 8, 2025, South Korea's Financial Services Commission (FSC) announced plans to approve cryptocurrency investments by institutional investors. The initiative will introduce real-name corporate trading accounts, according to local media reports. This move is part of the FSC's 2025 work plan aimed at enhancing financial stability and promoting innovation.
Despite no legal barriers to issuing these accounts, regulators have previously discouraged banks from doing so. The FSC intends to discuss this initiative with the Virtual Asset Committee, which convened for the first time in November 2024, although no specific timeline for implementation has been provided.
FSC Secretary-General Kwon Dae-young emphasized the need for South Korea to align its crypto regulations with global standards, highlighting the importance of establishing listing criteria and regulations for stablecoins and exchanges. This development occurs amid a political crisis in the country, following President Yoon Suk Yeol's controversial martial law declaration in December 2024.