South Korea Opens Doors for Institutional Crypto Transactions

Breaking a long-standing precedent, South Korea has paved the way for non-retail entities to participate in crypto trading. Dunamu, parent company of Upbit exchange, led the first such transaction on June 1st, following guidance from the Financial Services Commission (FSC). This marks a significant shift towards regulating institutional involvement, with guidelines permitting qualified nonprofits and registered exchanges to sell digital assets on local platforms.