South Korea Considers Easing Restrictions for Foreign Crypto Investors

According to BlockBeats, the head of the virtual assets department at South Korea's Financial Services Commission (FSC), Kim Sung-jin, has expressed support for allowing foreign investors to enter the South Korean cryptocurrency market. This potential shift is contingent upon local exchanges demonstrating robust anti-money laundering compliance capabilities. Currently, non-residents face significant barriers to trading crypto assets in South Korea due to capital controls and real-name account requirements. The regulatory landscape in South Korea is being reconsidered as the U.S., under the leadership of U.S. President Donald Trump, signals a more favorable stance towards cryptocurrency policies. Despite this, the FSC maintains a cautious approach, highlighting that South Korean exchanges still have shortcomings in international compliance, particularly in the implementation of the Travel Rule. This rule, effective since 2022, mandates exchanges to collect and store information on parties involved in transactions exceeding 1 million Korean won (approximately 680 USD). Some platforms have recently lowered the threshold for this requirement.