South Korea has recorded its first institutional crypto sale following the phased lifting of its ban on institutional digital asset trading.
On Sunday, World Vision Korea, a leading humanitarian aid organization, sold 0.55 ETH (worth approximately $1,396.50) on Upbit, the country’s largest cryptocurrency exchange. The sale was confirmed by Dunamu, Upbit’s parent company.
This marks a milestone transaction, as World Vision becomes the first non-retail entity to liquidate crypto holdings since the South Korean Financial Services Commission (FSC) relaxed regulations effective June 1. The FSC recently announced that qualified non-profits and registered exchanges can now sell digital assets held through donations or collected as fees.
“This transaction symbolizes the beginning of South Korea’s measured approach to integrating institutions into the crypto economy,” said an FSC spokesperson.
Ban Lifting to Expand in 2025
This policy shift is part of a phased deregulation plan aimed at bolstering the country’s digital asset ecosystem. The FSC said it will expand permissions in the second half of 2025, allowing publicly listed companies and registered professional investors to engage in cryptocurrency trading under a regulatory framework.
Regulatory Reform in Motion
South Korea had previously maintained strict limits on institutional involvement in crypto markets, largely restricting trading to individual investors. The new rules reflect the government’s commitment to evolving crypto regulation in a transparent and compliant manner, while unlocking broader market participation.
“The ability for non-profits to liquidate donated crypto adds new utility and financial efficiency,” said a local blockchain policy analyst.
Crypto-Friendly Election Ahead
The latest development comes just ahead of South Korea’s presidential election set for Tuesday, where all three leading candidates have pledged to expand the country’s digital asset industry. Key campaign promises include approving South Korea’s first spot crypto exchange-traded funds (ETFs) and boosting blockchain innovation.
Crypto traders and investors are watching the election closely, expecting policy continuity or acceleration regardless of the outcome.
“The policy environment is becoming more crypto-friendly, and institutional acceptance is just beginning,” noted Seoul-based fintech consultant Hyejin Park.
As South Korea prepares to become a regional crypto hub, the sale by World Vision Korea represents a symbolic first step toward mainstream institutional involvement in the country’s growing digital economy.