Coinone announced on the 5th that it plans to sell virtual assets worth 4.1 billion won. This is the first sale case among the top five domestic virtual asset exchanges that support transactions in won.
According to the announcement on that day, Coinone plans to sell ▲10 bitcoins ▲300 ethers ▲200,000 ripples ▲40,000 adas, among others. The estimated value is based on the closing price of 4.1 billion won as of the 31st of last month. The sales will be conducted in a dispersed manner through Upbit and Korbit from the 8th to the 31st. The purpose of the sale is said to be to cover operational expenses, including labor costs.
Previously, the Financial Services Commission finalized the guidelines for the sale of virtual assets by nonprofit organizations and exchanges, allowing them to sell virtual assets through corporate accounts starting in June. Coinone made its first case by releasing a public announcement regarding the sale of virtual assets.
According to the guidelines, the purpose of the sale is limited to ▲payment of corporate taxes and other taxes ▲coverage of operational expenses, including labor costs ▲cases where there is an apparent risk of default on other legal obligations. Additionally, a disclosure obligation is imposed, requiring exchanges to announce their sale plans, outcomes, and usage of funds.
In addition, when a nonprofit organization liquidates its held virtual assets, it can only do so through transfers via domestic won virtual asset exchange accounts and must conduct dispersed sales across two or more exchanges. Self-transactions are prohibited.