Crypto Ban Thaw: South Korean NGO Makes First Legal Digital Asset Sale
South Korea’s phased crypto crackdown just got its first loophole—and a local NGO sprinted through it.
After regulators eased restrictions, the unnamed organization became the first entity to legally offload digital assets. No word yet on whether they dumped the proceeds into another doomed ’Web3 metaverse project.’
The move signals a cautious thaw in Seoul’s anti-crypto stance—though good luck finding a bank that’ll touch the transaction records.
Upbit Operator to Establish Crypto Donation Culture
Dunamu, the parent company of crypto exchange Upbit, is looking to aid non-governmental organizations in the country to help sell their crypto donations.
The company aims to establish a platform that aligns with the guidelines established by financial authorities and the industry.
“Dunamu is currently discussing ways to revitalize the VIRTUAL asset sharing culture with the Community Chest of Korea, Love Fruit, etc,” the release read.
In March, Dunamu and Upbit carried out a crypto sponsorship campaign exclusively for users to aid underprivileged youth who have difficulty purchasing school uniforms and books. The recent World Vision’s sale of crypto is the result of that “cheer up campaign,” Upbit noted.
S. Korea to Allow Public Firms to Trade Crypto Later This Year
Further, the FSC unveiled a controlled rollout plan for publicly listed firms and entities to trade crypto in H2, 2025. Under the plan, about 3,500 listed companies and professional investment corporations registered under Korea’s Capital Markets Act will be permitted to trade virtual assets.
The Korean government’s most permissive stand towards digital assets comes at a time when other jurisdictions like the US are moving to embrace crypto into national reserves.
Additionally, South Korean investors are increasingly looking for the upcoming presidential election on Tuesday. All three leading candidates have pledged to grow the local crypto sector, including spot crypto ETF approvals.
