South Korea sets timeline to finalize path for institutional crypto deals

The South Korea’s financial guard dog is committed to emit clear rules for investment in institutional cryptography, with a progressive deployment from April.

South KoreaThe Commission of Financial Services goes ahead with plans to allow Institutional investors In the cryptography market, Vice-President Kim So-Young saying that the government is developing a “two-phase cryptographic regulatory framework” which extends beyond the laws on the protection of existing users.

During a March 12 meeting With local experts in the cryptography industry, Kim also revealed that the plan includes stablecoin rules and a legal structure for token titles, adding that the authorities “accelerate efforts to align themselves on global regulatory trends” following the American president Donald TrumpPush to globalize the crypto.

The FSC had previously announced a roadmap for the participation of the corporate cryptography market in February, aimed at opening the market step by step. Now Kim says that business participation in the cryptography market concerns “changing practices, not just laws”, calling best practices to build a healthy market.

A working group will write detailed directives, with different deadlines for participants. While non -profit and cryptographic exchanges will receive directives by April, public enterprises and professional investors will have theirs before the third quarter, said Kim.

Earlier in March, the Financial Intelligence Unit said that it was planning to launch a joint response team to manage LMA crimes – in particular in Crypto – which threaten public subsistence means, in collaboration with the financial service and financial institutions. Like crypto.News reportedThe authorities will also issue warnings to certain industry players selected according to the vulnerability to LMA crimes, media reports and industry demands.