South Korea's Ruling Party Proposes Measures to Boost Crypto Ecosystem

According to Foresight News, South Korea's ruling People Power Party announced seven initiatives during a parliamentary meeting on Monday aimed at fostering the cryptocurrency ecosystem. With elections approaching, the party pledged to abolish the 'one exchange, one bank' rule and allow spot cryptocurrency ETF trading within the year. Plans also include legalizing the issuance of security tokens and introducing a stablecoin regulatory framework aligned with global standards. Additionally, the People Power Party intends to propose a bill titled the Basic Act on the Promotion of Digital Assets. To implement these measures, the party plans to establish a dedicated cryptocurrency committee under the leadership of its presidential candidate. This committee is expected to spearhead efforts to promote cryptocurrency, support industry innovation, and rebuild investor confidence.