South Korea's ban on companies opening virtual asset trading accounts has left local universities unable to liquidate their large cryptocurrency donations. The ban was issued because South Korean financial authorities believe that extending this privilege to corporate entities would pose a higher risk of money laundering. An intelligence unit within the Financial Services Commission (FSC) and South Korea's Ministry of Education support maintaining the ban.

Odaily Planet Daily News: South Korea's regulations prohibiting companies from opening virtual asset trading accounts have prevented local universities from clearing their large cryptocurrency donations. The reason for issuing this ban is that the South Korean financial authorities believe that extending this privilege to corporate entities will bring higher money laundering risks. An intelligence unit within the Financial Services Commission (FSC) and the South Korean Ministry of Education support maintaining this ban. (News.bitcoin)

South Korean universities unable to redeem large cryptocurrency donations due to ban