History was written in South Korea with a crypto donation: World Vision made the first official sale
After the update of South Korea's legal framework for the crypto of South Vision Korea, World Vision Korea sold the first legal non -governmental organization crypto in the history of the country. The organization, which turned 0.55 ETH donation over the UPbit in cash, was the first NGO to trade within the scope of new rules.
🌍 World Vision went down in history by selling crypto in South Korea: the new era for NGOs
Crypto asset regulations have changed in South Korea, and World Vision became a non -governmental organization that realized the first official sales process.
A new door was opened for the crypto world in South Korea. World Vision Korea, one of the country’s leading humanitarian aid organizations, officially began to sell the crypto, which he obtained as a result of a donation campaign launched in March. After the change of regulations on crypto trade, this sales were first recorded in the history of the country.
🎒 The donation campaign was realized with ETH
The campaign launched in March by World Vision, UPbit users were asked to donate to meet needs such as school bags and clothes. Users supported the campaign by donating crypto assets. The collected 0.55 Ether (about 1.98 million Korean won or $ 1,436) was hiding by World Vision Korea President Myung-Hwan and sold over the Fiat money.
📜 Legal Change: New rules for NGOs and stock exchanges
This process became possible by the decision taken by the South Korean Financial Services Commission (FSC) on 20 May. Together with the new regulations, at least 5 years of financial non -governmental organizations are allowed to accept crypto donation and sell these assets. At the same time, crypto exchanges can convert the crypto they obtain from user fees to Fiat within certain limits.
Real named accounts and strong AML/KYC (anti -money laundering and customer recognition) applications are required for sales transactions.
🏛️ There are public companies next
According to the FSC statement, in the later stages of the year, public companies and registered institutions as professional investors will be able to buy crypto purchase and sale.
👥 The use of crypto in South Korea becomes widespread
Today, about one -third of the South Korean population - 16 million people - have a kripto account. Although the country has shown great interest in crypto since 2017, fluctuations have been experienced in the market due to the necessities of tightening laws and authentication.
This step of World Vision shows how crypton can be used not only for technology enthusiasts, but also for social benefit. With the regulations, South Korea officially recognized the place of civil society in the digital economy.
