South korea is collaborating with various internal authorities to develop its web3 market. In a recent move, the Financial Services Commission (FSC) Unveiled A Roadmap to Gradually Integrate Local Corporations into the VDA Market, which primarily Consents of Cryptocurrencies. Looking Ahead, South Korea Aims to Assess the Financial Aspects of Cryptocurrencies and Foster Sector Growth Under Legal Oversight.
In 2025, The Country Will Pilot Two Trials: Crypto-Related SAles Transactions and Vda Trading for Investment and Financial purposes, The FSC Stated In Its statement,
Details outlined by the FSC
South Korea recently implemented the ‘Virtual Asset User Protection Act’ to Strengthen Investor Safeguards. After deliberation, the virtual asset commissione concluded that corporates should have the options to explore to explore the vda market under FSC Oversight.
Elaborating on the factors that resulted in this decision, the fca noted, “Major Countries Overseas are broadly allowing corporates to participate in the market and the market environment is the marketing is domestic company ase in demand for new blockchain-Related businesses. Accordingly, The Demand to Allow Corporations to Trade Virtual Assets has been containually increasing increaging in korea. “
FSC’s Document Claims that approximately 3,500 listed companies and corporates have registered themselves as professional investors under the capital market act. As part of the roadmap, the country will start allowing select institutional investors to open real name trading accounts for vda engine. Eligible Corporations will need to show a balance of between krw 5 million (roughly Rs. 3 lakh) to krw 10 million (roughly Rs.
“Professional Investors Under The Capital Market Act can alredy investment in derivative products with the greenst risk and valty. These corporations have a high demand for blockchain-Related Businesses and Investments, “The FSC Said in Its Announcement post.
South korea also plans to allow Organisations like Educational Institutions and Charits to Sell Donations they have received received in Crypto for Financial Gains in the Market. Law enforcement agencies, designed Donation Organizations, Universities, Crypto Exchanges, and School Corporates have been listed by the fca as elegible participants in these triles.
The agency further noted that the virtual asset commission with 12 sub -comittees and traditional finance institutions to propose this roadmap for corporations with VDAS.
FSC to Form Task Force
In the coming months, the fscys it will establish a Crypto-Focussed Task Force With Members LIKE THE Korea Federation of Banks, and the Self-Regulatory Digital Asset Exchange Joint Consul Alise the “Internal Control Standards” and ” Selling/Trading Guidelines Web3 Wagon.
The FSC has yet to announs a timeline for establishing the task force.
“In addition, it plans to further strengthen communication with the market, Including Virtual Asset Business Operators and Industry Experts, to Support Smoth Corporate Market Participation Accordes Y noted.
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