South Korea demands strengthened anti-money laundering and AML regulations for cryptocurrencies in response to the impending lifting of institutional bans

ChainCatcher news, according to The Block, South Korea will allow certain non-profit organizations and registered cryptocurrency exchanges to sell their crypto assets starting in June, and announced strengthened anti-money laundering (AML) and know your customer (KYC) regulatory measures for institutional clients.

This move paves the way for gradually lifting the ban on institutional investment in cryptocurrencies. The Financial Services Commission (FSC) requires exchanges and partner banks to "thoroughly" review the source of funds and transaction purposes of new institutional clients, and plans to allow listed companies and others to trade on exchanges in the second half of 2025.