South Korea Rolls Out New Crypto Guidelines for Nonprofits and Exchanges
As reported by Foresight News, South Korea’s Financial Services Commission (FSC) has just finalized a fresh set of rules that directly impact how nonprofit organizations and crypto exchanges can handle virtual assets — and big changes are coming in June 2025.
Under the new framework, nonprofits will be allowed to accept crypto donations, but there’s a catch: they must sell those digital assets immediately after receiving them. No holding or speculation — just straight liquidation. Similarly, crypto exchanges can now sell off assets collected from user fees, but they’ll need to publicly disclose how much they sold, and what the proceeds were used for.
Stronger KYC to Combat Money Laundering
To reduce the risk of money laundering, the FSC is also tightening compliance rules. Exchanges and banks will be required to level up their Know Your Customer (KYC) checks, especially when onboarding new institutional clients. That means digging deeper into the source of funds and verifying the purpose of each transaction.
And it doesn’t stop there — the FSC plans to actively monitor institutions and even their CEOs to detect any suspicious or illicit activity. It’s clear that regulators are taking a more serious approach as South Korea continues to position itself as a key player in the global crypto space.
