The first transaction after the lifting of the institutional encryption ban in South Korea.

GateUser-6433627c · 2025-06-02T02:10:08+00:00

The South Korean humanitarian organization World Vision Korea has become the first institution in South Korea to comply with new regulations on the sale of encryption assets, selling 0.55 ETH. The South Korean Financial Service Commission has lifted the ban on crypto trading for some institutions, allowing eligible non-profit organizations and crypto platforms to sell encryption assets, with plans to further expand the scope of allowances in the second half of 2025.

GateUser-6433627c

2025-06-02 02:10:08

Abstract generation in progress

On June 2, according to TheBlock, the South Korean humanitarian aid organization World Vision Korea sold 0.55 ETH (approximately $1396.5) on a CEX, becoming the first institution to sell cryptocurrency since South Korea began to gradually lift its ban on institutional cryptocurrency trading. The Financial Service Commission (FSC) of South Korea had previously stated that as of June 1, eligible non-profit organizations and registered cryptocurrency platforms are allowed to sell their held cryptocurrency assets. The FSC plans to further allow listed companies and registered professional investors to engage in cryptocurrency trading in the second half of 2025.

ETH-1.88%

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