In preparation for institutional investors entering the crypto market, South Korea is tightening rules regarding digital asset transactions. This includes new standards for nonprofit crypto sales and stricter requirements for exchange listings.
On May 20, the Financial Services Commission (FSC) announced the completion of major regulatory measures during its fourth Virtual Asset Committee meeting.
Taking effect in June, these rules will allow both nonprofits and virtual asset exchanges to sell cryptocurrencies within new compliance frameworks.
Nonprofits must maintain at least five years of audited financial documentation and establish Donation Review Committees to evaluate donation suitability and liquidation plans.
To prevent money laundering, donations must flow through verified Korean won exchange accounts, with verification responsibility placed on banks, exchanges, and nonprofits.
