Korbit Prepares Virtual Asset Selling Solution for Corporations

Korbit, a domestic virtual asset exchange, announced on the 8th that it is preparing a selling solution for non-profit corporations and others.

Korbit is preparing this solution because, starting next month, the sale of virtual assets by non-profit corporations and virtual asset exchanges will be allowed. The virtual assets that can be sold are limited to those traded on three or more domestic KRW exchanges.

However, non-profit corporations must meet requirements such as an appropriate audit opinion, being established for more than five years, and being a donation organization. Virtual asset exchanges can only sell virtual assets for purposes such as tax payment and operating expenses. Additionally, transactions through their own exchanges are prohibited when selling.

A Korbit representative stated, "We are preparing the optimal selling solution to safely manage corporate assets," and added, "The corporate membership registration and application process will be announced separately later."