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South Korea plans to issue new guidelines in the third quarter to lift the ban on institutional investment in cryptocurrencies

According to ChainCatcher, The Block reported that South Korea's financial regulatory agency announced on Wednesday plans to release comprehensive guidelines for institutional cryptocurrency investment in the third quarter. The Financial Services Commission made this announcement during a meeting with local cryptocurrency industry experts. While the investment guidelines for listed companies and professional investors are expected to be issued in the third quarter, the Financial Services Commission stated that its goal is to launch investment guidelines for non-profit organizations and cryptocurrency exchanges in April.The Financial Services Commission first announced in January that it would gradually lift the de facto ban on institutional investors investing in cryptocurrencies. Last month, the regulator revealed that it intends to first allow charities and universities to sell their cryptocurrency assets in the second quarter. The upcoming detailed guidelines further solidify South Korea's shift in stance towards cryptocurrencies, no longer strictly opposing the entry of crypto assets into traditional financial markets.Meanwhile, the Financial Services Commission has also begun developing a second set of rules for a two-part cryptocurrency regulatory framework, with the first set of rules launched last year. The second part of the cryptocurrency law will focus on stablecoins and regulating cryptocurrency business owners.
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