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South Korea will relax restrictions on the sale of virtual assets by non-profit legal persons and exchanges in June."

According to online reports, the South Korean Financial Commission announced on May 4 that it will allow non-profit legal persons and virtual asset exchanges to sell virtual assets starting from June this year. According to the latest guidelines, external audit legal persons with a business history of more than 5 years can conduct virtual asset transactions, provided that an internal "donation review committee" is established. Virtual assets received by non-profit legal persons must be immediately realized and are limited to assets listed on more than 3 won exchanges. On the exchange side, sales are limited to operating expenses only and are subject to daily trading limits to minimize market impact. The new regulations will be implemented on June 1 and aim to regulate market order and prevent risks such as "listing flash collapse."

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