The Financial Commission of Korea: will open corporate virtual asset accounts in three stages, with the first batch allowing non-profit institutions and exchanges to participate

According to Golden Finance, the Vice Chairman of the Financial Commission of South Korea, Kim Cho young, announced at the third virtual asset committee meeting that it will promote the establishment of real name accounts for virtual assets by legal entities in three stages. The first phase (before the second quarter of 2025) will allow law enforcement agencies, non-profit legal entities, and virtual asset exchanges to open accounts; The second phase (second half of 2025) will expand to approximately 3500 professional investment entities; The third stage will consider opening up to ordinary corporate entities. The Financial Commission stated that it will gradually promote the plan after improving anti money laundering supervision and institutional construction.