#SouthKorea

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South Korea promises to carry out crypto reforms (original)

The ruling party «People’s Power» (PPP) announced ambitious plans:

▪️Approval of spot crypto-ETFs this year.

▪️Abolition of the «one exchange - one bank» rule - crypto exchanges will be able to freely choose banking partners.

▪️Permit of corporate cryptocurrency trading for non-profit organizations and more than 3,500 companies.

▪️Adoption of the Law on Promotion of the Development of Digital Assets - new listing standards, disclosure of information and regulation of stablecoins.

▪️Estation of a Special Committee on Virtual Assets under the Presidential Administration.

P.S. The implementation of these initiatives depends on the results of the early presidential elections on June 3.