South Korea’s chief financial regulator may allow foreign investments in the local cryptocurrency market, provided domestic exchanges have strong anti-money laundering (AML) capabilities.
Kim Sung-jin, who heads the virtual asset division at the Financial Services Commission, expressed support for enabling foreign investor access during a seminar at the National Assembly, as reported by local news outlet Bloter.
He indicated that the commission is exploring ways to attract global investors, noting that current restrictions could be lifted if exchanges meet AML standards.
Currently, foreign investors can’t trade on South Korean crypto exchanges due to stringent know-your-customer requirements. Local users must trade cash-to-crypto using bank accounts in their real names.
