#SouthKoreaCryptoPolicy : New Wave of Cryptocurrency Regulation

Starting July 2024, the Law on the Protection of Users of Virtual Assets will come into effect — it has strengthened the obligations of exchanges (cold storage ≥ 80% of assets, insurance, re-naming accounts).

In 2025, the second phase will begin. From the beginning of the year, charitable organizations and universities will gain the right to sell crypto donations, and banks will start opening "re-naming" accounts for 3,500 corporations and accredited investors.

From the second half of the year, institutional trading will be allowed for large companies, plus requirements for transparency in listings, stablecoins, and AML control will be introduced.

The new policy aims to strike a balance between protecting investors and integrating large players.