As South Korea prepares for the upcoming presidential election on June 3, the People Power Party (PPP) has introduced a comprehensive set of crypto policy suggestions to transform the country's digital asset market. The PPP presented seven new initiatives during a meeting at the National Assembly, including easing restrictions on banks collaborating with crypto exchanges and establishing legal frameworks for tokenized assets and spot exchange-traded funds (ETFs). These proposals come amidst a shifting political landscape following the recent impeachment of President Yoon Suk-yeol. The PPP's focus on digital asset regulation seems strategic as they aim to engage the growing number of crypto users and investors in South Korea. The party plans to lift the restriction limiting crypto exchanges to one bank for real-name verified accounts and legalize spot crypto ETF trading within the country. Additionally, they intend to create guidelines for security token offerings (STOs) and stablecoins, aligning with global standards to provide clarity for issuers and investors. The PPP's commitment to these policies could significantly impact South Korea's position in the global digital asset market, depending on the election outcome and implementation of these changes. Read more AI-generated news on: https://app.chaingpt.org/news

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