"Financial Services Commission Plans to Gradually Allow 'Corporate Real-Name Accounts' for Virtual Assets... Discussion at Meeting on the 13th"

Minseung Kang

Summary

The Financial Services Commission announced plans to gradually allow the issuance of corporate real-name accounts for virtual assets.
Corporate real-name accounts will first be allowed for non-profit corporations such as government, public institutions, and universities.
The Financial Services Commission plans to accelerate the preparation of regulations related to stablecoins and the second phase of virtual asset legislation.

It is reported that the financial authorities plan to gradually allow the issuance of corporate real-name accounts for virtual assets (cryptocurrency).

According to the industry on the 7th, the Financial Services Commission is expected to hold the 3rd Virtual Asset Committee meeting on the 13th and gradually promote the introduction of corporate real-name accounts for virtual assets. Corporate real-name accounts will first be allowed for non-profit corporations such as government and public institutions, and universities, and then gradually expanded.

In addition, the Financial Services Commission plans to accelerate the preparation of regulations related to stablecoins and the second phase of virtual asset legislation in the second half of this year.