South Korea plans to lift restrictions on "one exchange for one bank" and promote the legalization of cryptocurrency derivatives and corporate account trading

The South Korean financial regulatory agency is promoting digital asset regulatory reform, intending to abolish the "1 exchange -1 bank" binding restriction and allow the issuance of encrypted derivatives and the participation of corporate accounts in trading, in order to improve the market competition environment and enhance liquidity. Although this restriction is not legally mandatory, the long-term existence of anti money laundering requirements has affected the competitiveness of exchanges and user choices. The relevant policies will be included in the second stage legislation of the Basic Law on Digital Assets, and the two parties in Congress have reached a consensus on the direction of partial regulatory easing.