South Korea's Financial Services Commission (FSC) has delayed a decision regarding the approval of corporate cryptocurrency trading accounts. During its second Virtual Asset Committee meeting on January 15, 2025, regulators concentrated on establishing new crypto investor protection laws and stablecoin regulations, with the debate on corporate accounts sidelined for further examination. FSC Vice Chairman Kim So-young indicated that discussions surrounding corporate investment in digital assets have been extensive, with 12 subcommittee meetings conducted. Although there is no formal ban on corporate trading accounts, banks have been effectively guided not to issue them. The community anticipated a resolution soon, as the FSC is in the final stages of its policy review. In addition to corporate accounts, the meeting addressed the second phase of South Korea’s crypto investor protection law, aimed at regulatory improvements for crypto asset issuance, distribution, and disclosures. Regulatory actions also loom over local exchanges, with a potential meeting set to address Know Your Customer violations by Upbit, slated for January 16, 2025.

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