Catenaa, Sunday, June 15, 2025-South Korean NGO World Vision Korea became the first institution to sell cryptocurrency following the government’s phased lifting of a ban on institutional crypto trading.
Under new rules from South Korea’s Financial Services Commission, non-profit organizations can now sell cryptocurrencies received as donations.
Last week World Vision Korea sold 0.55 Ethereum, worth about 1.98 million won ($1,431), on Upbit, the country’s largest crypto exchange. The NGO linked its Kbank account to Upbit to complete the transaction.
The FSC has introduced strict measures to prevent money laundering, including thorough verification of transaction purposes and sources of funds for non-profits. Donations must be made via domestic won accounts.
Upbit’s parent company, Dunamu, is actively supporting NGOs in managing crypto donations and aims to foster a culture of crypto giving in South Korea. Dunamu is collaborating with organizations such as the Community Chest of Korea and Love Fruit to promote virtual asset sharing.
Earlier this year, Dunamu and Upbit ran a crypto sponsorship campaign to assist underprivileged youth with school expenses. World Vision’s recent crypto sale was part of that campaign’s efforts.
Looking ahead, South Korea’s FSC plans to allow publicly listed firms and professional investment corporations to trade cryptocurrencies in the second half of 2025. Approximately 3,500 companies will be eligible under these guidelines.
The government’s progressive stance on crypto comes amid growing investor interest ahead of South Korea’s upcoming presidential election, with candidates promising support for the local crypto industry, including approval of spot crypto ETFs.
