South Korea to Finalize Policy on Corporate Bank Accounts for Crypto Trading

South Korea to Finalize Policy on Corporate Bank Accounts for Crypto Trading

At the Virtual Assets Conference 2025, Kim So-young, Vice Chairman of South Korea’s Financial Services Commission (FSC), announced plans to finalize a policy review allowing corporations to secure real-name bank accounts for cryptocurrency trading. The move could reshape South Korea’s crypto landscape by addressing current restrictions, where businesses cannot trade cryptocurrencies under their own names.

The policy review will be led by the virtual asset committee under the FSC, which aims to balance industry growth with user protection while aligning with global regulatory standards, as reported by Chosun Biz.

Current Restrictions in South Korea

1. Ban on Corporate Crypto Trading Accounts

• Present Scenario: South Korean banks are prohibited from issuing real-name accounts to corporations for crypto trading, limiting businesses’ ability to directly engage in cryptocurrency markets.
• Impact: Companies must rely on intermediaries or offshore platforms, reducing transparency and regulatory oversight.

2. Individual-Only Accounts

• Only individual traders can access real-name accounts, leaving corporations at a disadvantage in participating in the local crypto ecosystem.

Proposed Policy Changes

1. Allowing Corporate Bank Accounts

• Objective: To enable corporations to open real-name bank accounts for crypto trading on local platforms.
• Expected Benefits: Improved transparency, increased institutional participation, and enhanced compliance with anti-money laundering (AML) regulations.

2. User Protection Framework

• Balanced Approach: The FSC aims to create policies that support industry growth while protecting users from risks associated with corporate participation in crypto trading.

Key Remarks from Kim So-young

1. Promoting Industry Growth

• Kim emphasized the need for a fair framework that encourages healthy development in South Korea’s crypto sector.
• He highlighted the importance of addressing corporate challenges to foster innovation and competitiveness.

2. Global Collaboration

• The FSC is committed to aligning its policies with international regulatory standards to accommodate the cross-border nature of virtual assets.
• South Korea aims to collaborate with other nations and global organizations to ensure consistency in crypto regulations.

Potential Impacts of the New Policy

1. Benefits for the Crypto Industry

• Increased Corporate Participation: Allowing corporate accounts could lead to higher trading volumes and greater market liquidity.
• Enhanced Transparency: Real-name accounts for businesses would improve transparency and reduce illicit activities.

2. Challenges

• Bank Compliance: Banks will need to establish robust systems for onboarding and monitoring corporate accounts.
• Regulatory Clarity: Clear guidelines will be essential to avoid confusion and ensure consistent implementation.

3. User Protection

• Risk Mitigation: A well-designed framework can protect retail and institutional investors from fraud and market manipulation.

South Korea’s Role in the Global Crypto Landscape

South Korea has been a significant player in the global cryptocurrency market, known for its advanced technology adoption and active trading community. The country’s new policy could further solidify its position by:

1. Setting Standards: Establishing a benchmark for corporate crypto trading policies.
2. Encouraging Innovation: Creating an environment where blockchain startups and enterprises can thrive.
3. Fostering Collaboration: Aligning with global regulatory initiatives to support the international crypto ecosystem.

Comparison: South Korea vs. Global Practices

Conclusion

South Korea’s decision to reevaluate and potentially permit corporate bank accounts for crypto trading marks a pivotal step in advancing the nation’s cryptocurrency ecosystem. By addressing the current limitations and fostering a balanced regulatory framework, the FSC aims to unlock new opportunities for businesses while ensuring user protection and global alignment.

As the policy develops, South Korea’s approach could serve as a model for other nations navigating the complex relationship between corporate finance and digital assets.

To learn more about the innovative startups shaping the future of the crypto industry, explore our article on latest news, where we delve into the most promising ventures and their potential to disrupt traditional industries.