ChainCatcher information, the Monetary Providers Fee of South Korea introduced that the decision on whether or not to permit firms to open cryptocurrency accounts will probably be postponed until 2025, with a decision anticipated to be made after the virtual belongings committee meeting in January. Beforehand, the Monetary Providers Fee deliberate to steadily permit non-profit entities resembling authorities departments, public establishments, and universities to open real-name accounts, however the remaining plan has not but been decided.
The prohibition on corporate funding in crypto belongings was determined by the Cupboard by means of an emergency administrative directive in December 2017. Business insiders are calling for the early allowance of authorized entities and institutional buyers to enter the market to promote market stability and wholesome improvement, and level out that the delayed decision might have an effect on South Korea’s competitiveness in the worldwide cryptocurrency market.
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