#我要上精选  South Korea's Financial Services Commission (FSC) has announced its intention to lift a long-standing ban preventing institutions from participating in cryptocurrency trading. This move comes in response to increasing global participation in the crypto market.

Initially, charities, non-profit organizations such as universities and school organizations, and law enforcement agencies will be allowed to sell their virtual assets in the first half of the year.

In the second half of the year, companies listed on the stock exchange and professional investors will also be authorized to buy and sell cryptocurrencies.

Since 2017, companies and banks in South Korea have faced restrictions on trading virtual assets due to government regulations. These regulations were implemented to prevent "overly speculative" movements and address money laundering concerns.

FSC stated that with the entry into force of the Virtual Asset User Protection Act, the necessary basis for user protection in the crypto market has been created. This regulatory framework aims to protect users in the evolving digital asset space.

“Major countries abroad widely allow companies to participate in the market, and the market environment is changing with the increasing demand of domestic companies for new blockchain-related businesses,” FSC said in its statement. This shift reflects the growing interest of traditional financial institutions and companies in the crypto sector.