South Korea postpones decision on corporate cryptocurrency accounts until 2025, plans to hold a virtual asset committee meeting in January

ChainCatcher news, the Financial Services Commission of South Korea announced that the decision on whether to allow companies to open cryptocurrency accounts will be postponed until 2025, with a decision expected to be made after the virtual assets committee meeting in January. Previously, the Financial Services Commission planned to gradually allow non-profit entities such as government departments, public institutions, and universities to open real-name accounts, but the final plan has not yet been determined.

The prohibition on corporate investment in crypto assets was decided by the Cabinet through an emergency administrative directive in December 2017. Industry insiders are calling for the early allowance of legal entities and institutional investors to enter the market to promote market stability and healthy development, and point out that the delayed decision may affect South Korea's competitiveness in the global cryptocurrency market.