South Korea's Finance Commission: From June, non-profit organizations and exchanges can sell virtual assets under certain rules

South Korea's Financial Services Commission (FSC) recently announced that it has finalized draft guidelines that will allow domestic non-profit companies and virtual asset exchanges (exchanges) to sell their holdings of virtual assets, subject to certain rules, starting in June 2025.
According to the new rules, eligible non-profit organizations (e.g. subject to external audits and an internal donation review committee) can sell virtual asset donations received (requiring immediate cash and only mainstream assets) through a domestic Korean won exchange account. Registered virtual asset exchanges are allowed to sell some of their own virtual assets (only the top 20 mainstream assets by market capitalization) to cover operating expenses, but have a daily sales limit and are prohibited from selling through their own trading platforms.
At the same time, the FSC plans to establish customer verification measures for virtual asset transactions between non-profit organizations and exchanges by the end of May, and is revising the best practice rules for transaction support (listing coins) to prevent market manipulation (such as "listing coins") and address the risk of market instability caused by "zombie coins", "Meme coins", etc. In addition, it plans to allow the issuance of real-name accounts to listed companies and registered professional investors in the second half of the year.