🔴South Korea is considering easing restrictions on foreign investors in cryptocurrencies

🔹️The head of the virtual assets division at South Korea's Financial Services Commission (FSC), Kim Sung-jin, expressed support for allowing foreign investors to enter the cryptocurrency market in South Korea. This potential shift depends on local exchanges demonstrating robust capabilities in anti-money laundering compliance. Currently, non-residents face significant barriers to trading cryptocurrencies in South Korea due to capital controls and real-name account requirements.

🔹️The regulatory landscape in South Korea is being reconsidered as the United States, under President Donald Trump, signals a more friendly stance towards cryptocurrency policies. Nonetheless, the FSC maintains a cautious approach, emphasizing that South Korean exchanges still suffer from shortcomings in international compliance, particularly in implementing the travel rule, which has been in effect since 2022, requiring exchanges to collect and store information about the parties involved in transactions exceeding one million Korean won (approximately 680 USD).