South Korea plans to remove the "1 exchange to 1 bank" restriction and promote the legalization of cryptocurrency derivatives and corporate account trading

PANews January 20 News, according to The Korea Herald, South Korean financial authorities are working on reforming the digital asset regulatory framework, planning to abolish the “1 exchange–1 bank” binding restriction, allowing the issuance of crypto derivatives and participation of corporate accounts in trading to break the current market monopoly structure and promote liquidity. The regulators believe that although this restriction is not legally mandatory, it has long existed due to anti-money laundering requirements, limiting exchange competition and user choice. The subsequent policies will be incorporated into the second phase legislation of the “Digital Asset Basic Law,” and both parties in the National Assembly have also reached a consensus on some easing of regulations.