FactBlock CEO says South Korea's crypto market is shifting toward institutions

South Korea’s virtual asset market is shifting from a retail investor-driven market to an institution-focused digital finance market, Andrew Park, CEO of FactBlock and organizer of Korea Blockchain Week, said, according to Bitcoin.com News. Park said financial authorities are pushing to allow corporate virtual asset accounts for about 3,500 listed companies and professional investors, while the National Assembly has laid the groundwork to bring tokenized assets and security tokens into the regulatory fold through revisions to the Electronic Securities Act and the Capital Markets Act. Park added that the Bank of Korea has completed the first phase of testing for Project Hangang and plans to conduct a second phase for institutions by the end of 2026.