South Korea may consider opening up its cryptocurrency market to foreign investors

According to BlockBeats, on April 4th, according to Finncefeeds, Kim Sung jin, head of the virtual assets department at the Financial Services Commission (FSC) in South Korea, expressed support for allowing foreign investors to enter the cryptocurrency market in South Korea, provided that local exchanges demonstrate strong anti money laundering compliance capabilities. Currently, due to capital controls and real name account requirements, non residents are almost unable to trade cryptocurrency assets in South Korea. But as the United States sends signals of more friendly encryption policies under the leadership of the Trump administration, South Korean regulators are starting to reassess existing restrictions. FSC still maintains a cautious attitude and believes that the Korean exchange still has shortcomings in international compliance, especially in the implementation of Travel Rules. Starting from 2022, this rule requires exchanges to collect and store information on trading parties exceeding 1 million Korean won (approximately $680), and some platforms have recently lowered the applicable threshold.