South Korea lifts restrictions on the sale of non-profit legal entities and virtual assets on exchanges starting from June

According to Golden Finance, the Financial Commission of South Korea announced on May 4th that it will allow non-profit legal entities and virtual asset exchanges to sell virtual assets starting from June this year. According to the latest guidelines, external audit entities with a business history of more than 5 years are allowed to conduct virtual asset transactions, but must establish an internal "donation review committee". The virtual assets received by non-profit legal entities must be immediately realized, and are limited to assets listed on three or more Korean won exchanges. On the exchange side, the sale is limited to operating expenses and must comply with daily trading limits to minimize market impact. The new regulations will come into effect on June 1st, aiming to regulate market order and prevent risks such as "listing crashes".