Corporate Virtual Asset Trading Allowed with AML Measures
Government to Gradually Permit Corporate Virtual Asset Transactions
The government is pushing forward with a plan to gradually allow corporate participation in the virtual asset market.
On the 13th, the Financial Services Commission (FSC) held the 3rd “Virtual Asset Committee” meeting at the Government Complex in Seoul, where they finalized discussions on the roadmap for corporate participation in the virtual asset market.
Additionally, they reviewed measures to address competitive listing practices among virtual asset exchanges and examined the progress of institutional reforms for the introduction of Security Token Offerings (STOs).
According to the roadmap, in the first half of the year, liquidation-based sales transactions will be permitted for certain entities, including law enforcement agencies, non-profit organizations, university foundations, and virtual asset exchanges.
Law enforcement agencies such as the prosecution, National Tax Service, and Korea Customs Service will be eligible, while designated donation organizations and universities will be allowed to open real-name accounts starting in the second quarter.
Virtual asset exchanges will also be able to liquidate assets received as fees for covering operational expenses. However, a “liquidation guideline” will be established to prevent conflicts of interest with users.
In the second half of the year, pilot trading for investment and financial purposes will be permitted for a limited group of institutional investors. This includes approximately 3,500 publicly listed companies and corporations registered as professional investors under the Capital Markets Act.
The financial authorities selected these entities due to their experience in high-risk derivatives trading and strong demand for blockchain-related business investments.
However, additional safeguards will be implemented, such as strengthened anti-money laundering (AML) measures, recommendations for third-party custody services, and expanded disclosure requirements under a new “trading guideline.”
The FSC also discussed ways to prevent extreme price fluctuations (so-called “listing spikes”) that occur immediately after new assets are listed on virtual asset exchanges.
Due to concerns over inadequate screening processes and competition among exchanges for exclusive listings, the government plans to revise the “Best Practices for Listing Support,” strengthening listing review standards and enhancing transparency in screening procedures.
Security Token Offerings (STO) were also a key topic of discussion. A bill has been submitted to the National Assembly to recognize security tokens as a form of electronic securities under the Electronic Securities Act and the Capital Markets Act.
The FSC believes that institutionalizing STOs will simplify issuance procedures, reduce costs, and enable more diverse financial instruments to be issued and traded. The government plans to actively participate in legislative discussions to accelerate the regulatory framework for STOs.
Going forward, the FSC will establish a task force (TF) with the Financial Supervisory Service, the Korea Federation of Banks, and the Digital Asset Exchange Alliance (DAXA) to formulate detailed implementation measures for the corporate participation roadmap.
Additionally, the government will continue engaging with industry stakeholders to ensure the smooth integration of corporate entities into the virtual asset market.
Editor 비트마스터
Provided by: FSC
