In a landmark move following regulatory reforms, World Vision Korea has become the first nonprofit organization to legally sell cryptocurrency in South Korea.
The humanitarian aid group sold 0.55 Ether (ETH) — worth approximately 1.98 million won ($1,436) — on Upbit, the country’s largest crypto exchange by volume, according to a June 1 statement from Dunamu, the parent company of the crypto exchange.
🚨 BREAKING: WORLD VISION KOREA SELLS $ETH ON UPBIT, MARKING THE FIRST NON-PROFIT CRYPTO TRADE IN SOUTH KOREA SINCE THE BAN LIFTED ON JUNE 1! 📷🇰🇷 pic.twitter.com/NpR8JuWCs1
— Javier | IA y Curiosidades (@IaPersonal45763) June 2, 2025
The transaction was made possible after South Korea’s Financial Services Commission (FSC) introduced new guidelines on May 20, allowing nonprofits and crypto exchanges to trade digital assets under strict compliance measures. World Vision Korea’s Ether was part of a donation campaign launched in March, where Upbit users were encouraged to contribute digital assets to support underprivileged youth in need of essential school supplies, such as uniforms and bags.
According to Dunamu, the parent company of Upbit, the Ether had been held by World Vision Korea Chairman Myung-hwan until its sale on June 1. The development marks a significant shift in South Korea’s crypto landscape, as nonprofits can now legally liquidate crypto donations, provided they meet certain conditions, including a minimum of five years of audited financial records and full compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) standards.
Exchanges are also permitted to sell cryptocurrencies for operational costs, although these are subject to daily caps and must utilize real-name bank accounts linked to verified users.
The reforms come amid a notable decline in Upbit’s trading volume, which dropped 34% from $561.9 billion in Q4 2024 to $371 billion in Q1 2025, reflecting a broader market slump, as reported by CoinGecko in April.
Later this year, the FSC plans to extend crypto trading privileges to publicly listed companies and professional investors registered in the country, further expanding institutional access to digital assets.
Crypto adoption in South Korea remains robust, with over 16 million citizens—roughly one-third of the population—holding digital asset accounts. Even public officials are active participants in the space.
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