South Korea to Allow Nonprofits, Exchanges to Sell Cryptocurrency Under New FSC Rules

According to Mars Finance, the Financial Services Commission (FSC) of South Korea announced that starting from June, non-profit organizations and virtual asset exchanges will be allowed to sell their held cryptocurrencies, while tightening token listing rules. Non-profit organizations must meet conditions such as having at least five years of audited operational records and establishing a donation review committee. They can only accept tokens listed on at least three Korean won exchanges and must sell them immediately. Cryptocurrency sales by exchanges are limited to raising operational funds, with daily sales limits and a ban on trading through their own platforms. Only the top 20 tokens by circulating market value are allowed, and they must comply with anti-money laundering standards. The FSC will simultaneously strengthen token listing reviews, requiring local exchanges to filter out "zombie coins" with low trading volume or market value, and set higher listing thresholds for meme coins, such as user base or trading history, to curb price volatility and enhance investor protection. The FSC stated that these new regulations are a policy adjustment following the 2017 ban on institutional cryptocurrency trading, aimed at balancing regulation and market flexibility, with plans to extend the rules to enterprises and institutional investors by the end of 2025. (CoinDesk)