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South Korea's Financial Commission relaxes restrictions on virtual asset trading while simultaneously strengthening regulatory new rules.
According to the Gate.io News bot, reported by Joseilbo, the South Korean Financial Commission announced a new policy that allows non-profit organizations and virtual asset exchanges to legally sell their held virtual assets starting in June. This policy requires institutions to establish internal review mechanisms and strengthen AML reviews.
According to specific regulations, the cryptocurrency donation assets received by non-profit organizations must be "liquidated immediately," and transactions are limited to mainstream coins on Korean exchanges. In addition, the South Korean government will implement new regulatory measures starting June 1, setting minimum circulation standards for newly listed coins and imposing restrictions on market price orders during the initial listing phase to regulate "coin pumping" as well as the trading behavior of zombie coins and meme coins.