05-04 10:56 Sunday
South Korea will allow non-profit institutions and exchanges to sell virtual assets, implement new regulations to prevent hype from happening in June
The Korea Financial Committee announced that starting from June, non-profit institutions and virtual asset exchanges will be able to sell virtual assets held in accordance with the law, provided that internal review mechanisms are established and anti-money laundering reviews are strengthened. Crypto-donated assets received by non-profit organizations must be "instant cash-out" and are limited to mainstream currency on the Korean won exchange. At the same time, the government will implement new regulations starting from June 1, requiring newly listed currencies to have the lowest circulation, and limit the initial market entrustment of market prices to prevent "coin pull-up" and zombie coins and meme tokens. (Joseilbo)
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