Korean Financial Services Commission: Will Open Corporate Virtual Asset Accounts in Three Phases, First Batch to Allow Non-Profit Organizations to Participate

BlockBeats News, February 13th, according to Newsis, Kim Jai-ryong, Vice Chairman of the Financial Services Commission of South Korea, announced at the third Virtual Assets Commission meeting that the establishment of corporate real-name accounts for virtual assets will proceed in three stages.

The first stage (by the second quarter of 2025) will allow law enforcement agencies, non-profit corporations, and virtual asset exchanges to open accounts; the second stage (in the second half of 2025) will expand to around 3,500 professional investment corporations; the third stage will consider opening up to general corporate entities.

The Financial Services Commission stated that it will gradually advance this plan after improving anti-money laundering supervision and institutional development.