South Korea’s top banks seek greater flexibility in crypto exchange partnerships

South Korean banks are urging lawmakers to implement changes that would allow for greater collaboration with multiple crypto exchanges, moving away from the restrictive one bank, one exchange policy.

Bank executives highlight the stability risks associated with the current system, asserting that it limits customers’ options and potentially harms the crypto market’s growth.

With around 16 million South Koreans investing in cryptocurrencies, commercial banks see significant opportunities in the expanding crypto market and are eager to engage.