Odaily Planet Daily News As South Korea gradually lifts its de facto ban on institutional crypto trading, non-profit organization World Vision Korea has become the first non-retail investor to sell crypto assets after the ban was lifted. The organization sold 0.55 ETH (about $1,396.5) on the local exchange Upbit on Sunday, and the relevant transaction was announced by Upbit's parent company Dunamu.
The Financial Services Commission (FSC) of South Korea previously announced that from June 1, eligible non-profit organizations and registered exchanges can sell their crypto assets on local trading platforms, including donations and fee income. The FSC also plans to further open up trading rights for listed companies and professional investment institutions in the second half of 2025.
South Korea will hold a presidential election on Tuesday, and the three main candidates have pledged to develop the crypto asset industry and support the launch of the first spot crypto ETFs. (The Block)