South Korea will allow charities and universities to sell cryptocurrency donations in Q2

ChainCatcher news, according to the Financial Services Commission (FSC) of South Korea, the country will allow charities, universities, and cryptocurrency exchanges to sell part of their held cryptocurrencies in the second quarter of this year.

In addition, the FSC plans to allow South Korean cryptocurrency exchanges to sell crypto assets obtained as fee income to cover operational costs such as salaries and taxes. However, to avoid conflicts of interest with users due to large-scale sell-offs by exchanges, the relevant operations will be gradually advanced, and a unified "sales guideline" will be established among operators before implementation.

According to the plan, a pilot program will be launched in the second half of this year to allow approximately 3,500 listed companies and professional investors to open real-name accounts for investment.

Earlier today, news reported that the Financial Services Commission of South Korea plans to open corporate and exchange accounts in three phases.