South Korea's first non-retail sale of crypto assets after lifting the ban on institutional trading

Odaily News As South Korea gradually lifts its de facto ban on institutional crypto trading, nonprofit World Vision Korea has become the first non-retail investor to sell crypto assets after the ban was lifted. The organization sold 0.55 ETH (about $1,396.5) on local exchange Upbit on Sunday, and the transaction was announced by Upbit's parent company Dunamu.
South Korea's Financial Services Commission (FSC) previously announced that from June 1, eligible non-profit organizations and registered exchanges can sell their crypto assets on local trading platforms, with sources including donations and commission income. The FSC also plans to further open up trading rights for listed companies and professional investment institutions in the second half of 2025.
South Korea will hold a presidential election this Tuesday, and all three major candidates have pledged to develop the crypto asset industry and support the launch of the first spot crypto ETFs. (The Block)