South Korea to Allow Foreign Crypto Investments with AML Compliance

Pilot policy to set up digital asset tax framework

The Ministry of Finance (MoF) is finalising a draft resolution on a pilot for issuing and trading cryptocurrency, with attention paid to tax obligations of traders. This is deemed an important step to bring the digital financial sector into a legal framework, both meeting development trends and ensuring budget revenues. An MoF document said this would not only be a legal environment for innovation, but also an opportunity for local authorities t…

Crypto Gate Opens? South Korea Signals Global Access Shift

South Korea plans to open its crypto market to foreign investors under strict anti-money laundering conditions. The Financial Services Commission is considering regulatory changes to support international participation in local exchanges. Current restrictions, including KYC requirements and capital controls, may be eased for exchanges that meet AML standards. South Korea has developed strict anti-money laundering regulations to allow foreign inv…

South Korea Weighs Opening Crypto Market To Foreign Investors - FinanceFeeds

South Korea may soon allow foreign investors to access its domestic cryptocurrency market — but only if local exchanges prove capable of handling anti-money laundering (AML) duties, according to the country’s top financial regulator. Speaking at a seminar held at the National Assembly on Wednesday, Kim Sung-jin, head of the virtual asset division at the Financial Services Commission (FSC), said he supports the idea of letting global investors tr…

South Korea to Allow Foreign Crypto Investments with AML Compliance

South Korea has begun considering relaxation of laws that prohibit foreign crypto investments.  The nation has been focusing on building a robust crypto regulatory framework over the past year. Crypto community members have been watching the dispute between Justin Sun and Hong Kong financial institution, FDT. On the other hand, market prices have shown minimum movements in the last 24 hours. A recent report of surging crypto crimes have unsettle…

South Korea may open the crypto market to foreign traders while tightening controls on money laundering, Kim Sung-jin, head of the virtual assets department at the Financial Services Commission (FSC), said, local media reports. According to him, the regulator is studying the possibility of easing restrictions on...