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South Korea's Ruling People's Power Party Pushed For Bold Bill That Promotes The Crypto Industry

2025/04/28 17:45

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South Korea’s leading right wing political party-People Power Party-is pushing for a new bill that aims to end an era of uncertainty and regulation, urging lawmakers to embrace digital assets as a cornerstone of the new economy.

The details of the upcoming bill, named the "Digital Asset Promotion Basic Act," is reportedly set to be announced next Monday, with details set to outline a framework that promotes innovation, reduces regulatory friction, and establishes clearer institutional guidelines for crypto firms and investors

🇰🇷 South Korea's Political Party Proposes Major Reforms in Virtual Asset Policies.#CiaoAI #DigitalAsset #Bank #SouthKorea pic.twitter.com/s3CAm8pyL0
— CiaoAI (@CiaoAi_Global) April 28, 2025

Kim Sang-hoon, the policy chief of the former ruling party expressed that the government's anti-money laundering policies has been a great stumbling block for the development of digital assets in the nation, as it has deterred foreign investment and prompting domestic capital to flow out of the country.

Kim described cryptocurrency as a transformative asset class with the potential to become the “21st-century gold,” underscoring its role as a store of value in the digital age.

He acknowledged that South Korea’s initial response to the crypto boom was marked by hesitation and confusion, but insisted the time has come to actively foster and institutionalize digital assets.

“We hesitated, we were confused and unable to present a clear direction when faced with this new frontier. We must now transition to efforts to actively foster and institutionalize digital assets.”

1/4 🚀 South Korea is set to launch institutional crypto investment guidelines in Q3 2025! This framework aims to integrate digital assets into the financial system under regulation. #CryptoRegulation #SouthKorea pic.twitter.com/qfFY6SSyXX
— FACTBLOCK (@FACTBLOCK) March 24, 2025

An FSC representative said earlier this month that it may consider opening the door to foreign investors to trade in the local market, which is currently restricted.

🇰🇷JUST IN: South Korea is considering allowing foreign investors to trade on local crypto exchanges (provided that anti-money laundering measures are significantly strengthened) pic.twitter.com/Zli8aWh1sm
— CryptosRus (@CryptosR_Us) April 4, 2025

Additionally, the FSC is actively developing follow-up legislation to the country’s initial crypto regulatory framework, with a focus on stablecoin regulations, token listing standards, and enhanced disclosure requirements.

These reforms are designed to balance robust oversight with the need to foster growth and innovation in South Korea’s rapidly evolving digital asset landscape.

MAJOR SHIFT: South Korea’s🇰🇷financial authority (FSC) plans to drop the de facto ban on institutional investment in crypto w/Q3 2025 guidelines PLUS a stablecoin-focused regulatory framework!

🔸 January '25 noted as gradual, now accelerated
🔸 April for non-profits &… pic.twitter.com/iOgG0Vw53z
— Kyle Ellicott (@kyleellicott) March 13, 2025

As the global race for crypto leadership heats up, South Korea’s strategic pivot could have far-reaching implications for both domestic and international investors, potentially setting a new standard for regulatory modernization in the digital economy.

Dapatkan pemahaman yang lebih luas tentang industri kripto melalui laporan informatif, dan terlibat dalam diskusi mendalam dengan penulis dan pembaca yang berpikiran sama. Anda dipersilakan untuk bergabung dengan kami di komunitas Coinlive kami yang sedang berkembang:https://t.me/CoinliveSG

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