New Rule for Bitcoin and Altcoin Investments from South Korea!

In South Korea, where there is intense interest in Bitcoin and altcoins, cryptocurrency regulations continue to take shape.

At this point, South Korea plans to allow companies to invest in cryptocurrencies and will introduce cryptocurrency market regulations for companies by the 3rd quarter of this year.

According to The Block, South Korea's financial authority, the Financial Services Commission (FSC), announced that it plans to publish comprehensive guidelines for institutional cryptocurrency investments until the third quarter.

FSC Vice Chairman Kim So-young noted that the institution aims to release these guidelines by April for non-profit organizations (NGOs) and crypto exchanges; and by the third quarter of the year for public companies and professional investors.

In preparation for these changes, Kim called on banks and cryptocurrency exchanges to take strong and smooth anti-money laundering measures.

FSC announced that it would gradually lift the de facto ban on institutional investors investing in cryptocurrencies in January.