South Korea's Financial Services Commission (FSC) announces strengthening KYC\u002FAML requirements for cryptocurrency exchanges and banks
Online reports, according to TheBlock, South Korea's Financial Services Commission (FSC) announced that it will strengthen KYC/AML requirements for cryptocurrency exchanges and banks in preparation for the upcoming lifting of institutional investment. Starting from June 2025, non-profit organizations can sell cryptocurrency obtained from donations, and registered exchanges can clear fees paid by users in crypto form. South Korea plans to allow listed companies and professional investors to participate in crypto trading in the second half of 2025. As one of the world's largest crypto markets, about 20% of South Korea's population participates in crypto transactions, with an average daily transaction volume reaching US$5.26 billion. Crypto policy has become the focus of the upcoming presidential election, with major candidates supporting lifting the ban on spot crypto ETFs.
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