South Korea just made history with its first-ever institutional cryptocurrency sale! This happened just days before a surprise presidential election, adding extra excitement to the event.
World Vision Makes the First Move
The sale was made by World Vision, a well-known non-profit organization. Upbit, a major South Korean crypto exchange, handled the transaction. They sold 0.55 Ether (ETH) for about $1,437. This was a huge step, as it’s the first time an institution in South Korea has officially sold crypto.
A Lifting of Restrictions
This sale became possible because South Korea recently eased restrictions on institutional crypto trading. Starting June 1st, 2025, non-profits, universities, and charities can now sell their crypto holdings through local exchanges. This is part of a bigger plan by the Financial Services Commission (FSC) to bring more businesses into the digital asset market.
The FSC had previously blocked institutions from opening the special bank accounts needed for crypto trading. Now, non-profits can connect their bank accounts to their crypto exchange accounts, making it much easier to buy and sell crypto. World Vision used this new system to sell Ethereum they’d received as donations earlier in the year. They raised money to help teenagers afford school supplies.
Upbit plans to help other non-profits do the same, all while following government rules. They’re also getting ready for the next phase, where even more businesses and investors will be allowed to join the crypto market.
The Election and the Future of Crypto
This big crypto event comes right before a presidential election. Both leading candidates have promised to make it easier for people to invest in crypto. They’re talking about things like crypto ETFs (like stocks, but for crypto) and lower taxes on crypto transactions. This suggests a bright future for crypto in South Korea, regardless of who wins the election. The candidates see the millions of South Koreans already investing in crypto as a key part of the economy.
