The issuance of a VASP license to Happy Block denotes a possible change in South Korea’s regulatory position regarding cryptocurrencies, especially Bitcoin (BTC). This follows the license granted to Waybridge last December, aligning with the Financial Services Commission’s upcoming policy reviews.
The Financial Services Commission is exploring policies that would permit corporations to buy Bitcoin and other digital assets. As companies like Happy Block prepare to provide diverse services, there’s growing interest in institutional crypto purchases amid evolving regulations.
Industry insiders suggest that these developments could eventually facilitate Bitcoin ETF approvals. With increased demand for broker services to handle institutional orders, there may be significant changes in regulation that support broader cryptocurrency market participation.