South Korea to lift ban on corporate crypto investment: Report
South Korea’s FSC reportedly shared guidelines allowing listed companies to invest up to 5% of equity in the top 20 cryptocurrencies, ending a 2017 ban.
South Korea’s Financial Services Commission (FSC) is reportedly updating its guidelines to allow corporations to invest in digital assets after a nine-year ban.
Listed companies and professional investors will be able to invest up to 5% of their equity capital in crypto assets, reported local news outlet Seoul Economic Daily on Sunday.
According to the report, a senior FSC official familiar with the matter said the authorities will “release the final guidelines in January [or] February and allow virtual currency transactions for investment and financial purposes by legal entities.”