South Korea to Lift Restrictions on Non-Profit Organizations and Exchange Platform Cryptocurrency Sales from June

BlockBeats News, May 4th. According to Joseilbo, on May 4th, the South Korean Financial Services Commission announced that starting from June this year, non-profit corporations and virtual asset exchanges will be allowed to sell virtual assets. Under the latest guidelines, external audit firms with more than 5 years of business history can engage in virtual asset transactions but must establish an internal "Donation Review Committee." Virtual assets received by non-profit corporations must be immediately liquidated and are limited to assets listed on three or more Korean won trading platforms. As for the exchanges, the sales are restricted to operational expenses only and must adhere to daily transaction limits to minimize market impact. The new regulations will be implemented from June 1st, aiming to standardize market order and prevent risks such as "listing crash."