The Korean People’s Power Party has approved the Spot Crypto ETF, dismantling major banking restrictions and overhauling the Digital Assets Act by the end of the year, local media reported Monday.
The party has revealed its digital assets pledge, Yoon Sook Yeol, the country’s president of the Mergers each, just weeks after the Mergers each. Removed from the office The political shock that formed the basis for the heavily contested snap elections on June 3 due to illegally imposed martial law.
The PPP proposal includes the repeal of the “one exchange, one bank” rule. Condemned To maintain monopoly and limit consumer choices.
“It’s extremely restrictive to not be able to trade virtual assets through your preferred bank,” Rep. Park Summin said Monday at a meeting of the Emergency Response Committee held in Parliament.
PPP also promises to legalize Spot Crypto ETFs within a year. Park highlighted the urgency of approval and pointed to the US Securities and Exchange Commission (SEC) decision Green Light Spot Bitcoin ETF Last January.
Furthermore, the party said on its agenda that it will institutionalize corporate and institutional investors’ participation in the crypto market this year.
If PPP wins from the second quarter, nonprofits can engage in crypto trading and have a wide range of participation from around 3,500 companies and investment companies.
“Golden Standard”
At a committee meeting, Senator Choi Bo-yong said the PPP would also implement a stable “global standards” regulatory system, local media reported.
To oversee the implementation of the digital asset agenda, the parties are looking to establish a direct virtual asset special committee for the President’s office.
The PPP has pledged to enact a framework law for the promotion of digital assets. It subdivides exchange operations, creates listing regulations and introduces disclosure systems for digital asset trading.
The party’s push coincides with the global shift towards decryption caused by US President Donald Trump’s move Defi Broker reporting rules are removed, permission It will create a national Bitcoin stockpile and place Crypto as a core component of American monetary policy.
PPP presidential candidate Hong Jun Pyo recently raised the deregulation of Trump-era I swear He has pledged to “eliminate regulations like the Trump administration,” and expand blockchain applications across South Korea’s public services.
Still, whether the PPP agenda can move forward depends on the outcome of the election.
Democratic candidate Lee Jae-myung has campaigned to restore democratic norms and stabilize the economy, but he has provided little detail on his stance on regulating digital assets.
Current polling show Lee, who lost the 2022 race slightly, now holds the lead in command of his rivals, according to local media.
edit Sebastian Sinclair
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