South Korea's Financial Services Commission (FSC) said it plans to gradually lift restrictions on institutional investors opening accounts on cryptocurrency exchanges. The FSC will work with the Digital Assets Commission to open up the participation of non-profit organizations for the first time. Currently, South Korea's Financial Information Use Act only allows real-name verified retail investors to trade cryptocurrencies. The move is part of President Yoon's commitment to promote the development of the local crypto industry, and the government is also promoting the local listing of spot crypto ETFs. The FSC will also amend the Financial Information Act to introduce major shareholder censorship for virtual asset service providers (VASPs).