South Korea is preparing to lift its ban on institutional cryptocurrency trading, signalling a significant shift in the country’s crypto market. The Financial Services Commission (FSC), South Korea’s top financial regulator, announced plans to collaborate with the Digital Asset Committee to phase in institutional trading, beginning with non-profits. Until now, only individual traders with verified accounts have been allowed to trade cryptocurrencies, as banks have been restricted from enabling institutional accounts.
The country is also eyeing broader modernisation of its digital asset landscape. Speaking at the Securities and Derivatives Market Opening Ceremony, Korea Exchange Chairman Jeong Eun-bo revealed plans to consider cryptocurrency spot ETFs by 2025, taking cues from global examples. He emphasised the exchange’s goal of expanding opportunities within the capital market.
Additionally, South Korea’s FSC is working on measures to enhance security in crypto investments. The introduction of the Virtual Asset Investor Protection Act last year demonstrates a commitment to safeguarding traders and enabling innovative tools like security token offerings.
Last month’s steep increase in Singapore’s carbon tax illustrates the commitment the country has made to bringing about a carbon-neutral future. Without government intervention and regulation,
Bitcoin price started another decline after it struggled near $64,550. BTC declined below the $63,500 support and might continue to move down. Bitcoin started a fresh decline from the $64,550 resistance
Türkiye has launched a tax compliance initiative targeting small and medium-sized enterprises (SMEs) to strengthen budget stability and curb unregistered economic activity. The move, part of a broader
President Joe Biden’s administration has presented a disputable idea to impose a 44% tax on cryptocurrency transactions. This policy, whose purpose is to bring more revenue into the government treasury,