South Korea plans to issue new guidelines in Q3 to lift ban on institutional cryptocurrency investments

South Korean financial regulatory agency announced on Wednesday that it plans to release comprehensive guidelines for institutional cryptocurrency investments in the third quarter. The Financial Services Commission made this announcement during a meeting with local cryptocurrency industry experts. While investment guidelines for listed companies and professional investors are expected to be introduced in the third quarter, the Financial Services Commission stated that its goal is to release 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 ban on institutional investors investing in cryptocurrencies. Last month, the regulatory agency 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.