Vice Chairman of the Financial Services Commission of Korea: The plan to allow corporations to open real-name virtual asset accounts will be promoted in three phases

ChainCatcher news, according to Newsis, Kim Jae-yong, Vice Chairman of the Financial Services Commission of Korea, announced at the third virtual asset committee meeting that the establishment of real-name accounts for corporate entities will be promoted in three phases.

The first phase (before the second quarter of 2025) will allow law enforcement agencies, non-profit corporations, and virtual asset exchanges to open accounts; the second phase (in the second half of 2025) will expand to approximately 3,500 professional investment corporations; the third phase will consider opening to ordinary corporate entities.

The Financial Services Commission stated that the plan will be gradually advanced after improving anti-money laundering regulations and institutional development.