World Vision Korea Opens the Post-Ban Crypto Era
In a symbolic yet pivotal move, humanitarian aid group World Vision Korea has become the first nonprofit organization to officially sell crypto under South Korea’s newly relaxed rules on institutional digital asset trading. The group cashed out 0.55 ETH, worth approximately $1,436, which it had received during a March donation campaign hosted on Upbit—the country’s largest crypto exchange.
The ETH was held in a wallet managed by World Vision Chairman Myung-hwan, and the proceeds will go toward school supplies for underprivileged kids.
South Korea Loosens the Grip on Institutional Crypto Use
This ETH sale follows a May 20 update from the Financial Services Commission (FSC), which lifted the ban on institutional crypto activity—provided strict compliance rules are followed. Effective June 1, nonprofits and crypto exchanges are now allowed to sell digital assets, if:
- They use real-name bank accounts
- Comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) laws
- Meet auditing and transparency standards
For nonprofits specifically, there’s an extra hurdle: they must have at least five years of audited financial history to qualify for handling and selling crypto. Exchanges, on the other hand, can liquidate user fees collected in crypto to cover operational costs—within strict daily limits.
More Institutional Crypto Access Is Coming
Even more significant changes are on the horizon. Later this year, the FSC plans to extend crypto trading rights to:
- Publicly traded companies
- Registered professional investors
That means South Korea is evolving from heavy restrictions to carefully regulated access, a move that could transform the institutional adoption landscape in Asia. The FSC’s shift comes as the country estimates that over 16 million people—a third of its population—hold crypto assets.
Public Officials Are Holding, Too
South Korea’s pivot toward transparency is also visible at the government level. In a March 27 disclosure, the Ethics Commission for Government Officials revealed that 20% of public servants surveyed own crypto, with holdings totaling ₩14.4 billion ($9.8 million) across 411 officials.
While once considered a hotbed for unregulated trading, South Korea now seeks to position itself as a compliance-first crypto hub—a transition that could unlock institutional liquidity while building long-term investor trust. With ETH, XRP, and BTC already widely held, and platforms like Upbit bouncing back, the real boom may be just beginning.
