fsc

South Korea has temporarily suspended new cryptocurrency lending services following a major liquidation event at the #Bithumb exchange, where over 13% of the 27,000 users were liquidated. This move is a direct response to increasing leverage risks in the market.

Causes and Actions

The Financial Services Commission (#FSC ) of South Korea stated that the suspension is necessary because the current user protection tools are "insufficient" and there are "concerns about harm to a healthy trading order." This decision will last until official guidelines on lending services are issued.

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South Korea is about to introduce a new legal framework allowing financial institutions and businesses to invest in crypto legally. This is an important step, marking a significant change in the country’s crypto regulation policy.

Legal Framework for Organizations: Expected Implementation Q3 2025

On March 12, 2025, during a meeting with digital asset experts, the Financial Services Commission of South Korea (FSC) announced plans to issue regulations for institutional crypto investment in Q3 2025. This paves the way for businesses and financial institutions to participate legally in the crypto market, rather than being banned as before.

South Korea is planning to loosen restrictions on cryptocurrency trading for institutions, marking a significant policy shift as the government aims to promote the development of the domestic crypto industry.

Major Policy Change

The Financial Services Commission (#FSC ) of South Korea will gradually allow organizations to access domestic crypto exchanges, starting with non-profit organizations, according to a report by Yonhap News Agency.

A heated discussion about the future of digital assets has erupted in South Korea after Lee Eok-won, the nominee for chairman of the Financial Services Commission (FSC), stated that cryptocurrencies “have no intrinsic value.”

Sharp criticism even before taking office
Lee expressed his views in written responses submitted before his official appointment as head of the regulator. According to him, cryptocurrencies, due to their high price volatility, cannot fulfill the basic functions of money – a store of value or a medium of exchange.
He also strongly opposed allowing pension or investment funds to invest in crypto assets, arguing that the highly speculative nature of the market poses a significant risk, which conflicts with protecting citizens’ capital.

Crypto industry reaction: “Outdated view”
Lee’s comments immediately drew reactions from representatives of the South Korean crypto industry. They described his stance as reactionary and outdated, especially at a time when governments and major corporations worldwide are incorporating digital assets into their balance sheets.
Some blockchain experts, however, point out that despite volatility, cryptocurrencies offer “digital benefits” – such as enhanced security, transparency, and the ease of transferring value across borders.

Softer tone on stablecoins
Unlike cryptocurrencies in general, Lee has taken a more moderate position on stablecoins. He stated that regulation should aim to balance innovation opportunities with security measures.
South Korea is already preparing rules for stablecoins pegged to the local currency, aiming to strengthen the country’s monetary sovereignty in the Web3 era. Similar initiatives are underway in other Asian financial hubs, including Japan, Hong Kong, and China, which are competing for leadership in digital finance.

Significance for the future
The debate around Lee’s statements highlights the tense relationship between traditional financial institutions and the crypto world. While some experts warn of risks and speculation, others see digital assets as a key to the future financial system.
One thing is certain – South Korea will play a crucial role in the coming years in determining whether cryptocurrencies become part of the mainstream or remain on the fringes of the global economy.

#SouthKorea , #FSC , #CryptoRegulation , #bitcoin , #DigitalAssets

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

The Financial Services Commission of South Korea (FSC) has just announced plans to allow charities and universities to sell donations in cryptocurrency from the second half of 2025. This is seen as an important step to promote crypto acceptance in the country.
“Real Name” Crypto Account Pilot
In addition, #FSC will also implement a pilot program allowing 3,500 businesses and professional investors to open crypto accounts using real names in the first half of 2025.