ASIA: South Korea plans institutional crypto trading

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.

14 February 2025

GREECE: Greek Tax Authorities Target Tax Evasion via Lifestyle Audits

Audit teams use advanced algorithms and risk analysis to conduct lifestyle audits and identify taxpayers suspected of concealing undeclared income.Greek tax authorities have launched a new round of

Read More
10 January 2025

UK: UK order clarifies crypto staking is not a collective investment scheme

The UK Treasury has amended finance laws to clarify that crypto staking isn’t a collective investment scheme, which a lawyer says is “heavily regulated.” The UK Treasury has amended a law clarifying

Read More
19 December 2024

US: Gov. Inslee floats ‘modest wealth tax’ to help close Washington state’s $12 billion budget gap

To address a $12 billion budget gap, Gov. Jay Inslee is proposing a 1% wealth tax on the state’s richest residents, according to a budget proposal released Tuesday morning. As one of Inslee’s

Read More
5 February 2024

HONG KONG: Crypto Investors Face Deadline to Switch to Licensed Platforms

Crypto exchanges in Hong Kong must be licensed by 29 February.The regulator wants traders to close accounts with unlicensed entities by May 31 or move to licensed ones. Hong Kong’s Securities and

Read More