🇰🇷 South Korea Vows Sweeping Crypto Reforms

The ruling People Power Party (PPP) has unveiled bold plans to overhaul the country’s crypto landscape:

▪️ Spot Crypto ETFs: Approval targeted for this year.

▪️ Banking Flexibility: The current “one exchange – one bank” rule will be scrapped, allowing exchanges to freely choose banking partners.

▪️ Corporate Access: Over 3,500 companies and non-profits to be permitted to trade cryptocurrencies.

▪️ Regulatory Framework: Introduction of the Digital Assets Promotion Act, including new listing standards, stablecoin oversight, and disclosure requirements.

▪️ Presidential Oversight: Formation of a Special Committee on Virtual Assets under the Presidential Administration.

Note: The rollout of these initiatives hinges on the outcome of the early presidential elections on June 3.