Key Cryptocurrency Reforms Under President Lee
Legalization of Spot Bitcoin ETFs: President Lee intends to lift the current ban on spot Bitcoin exchange-traded funds (ETFs), facilitating broader institutional investment in cryptocurrencies.
Introduction of a Won-Backed Stablecoin: Plans are underway to develop a stablecoin pegged to the Korean won, aiming to modernize the financial system and prevent capital outflows.
Institutional Investment in Crypto: The administration supports enabling major institutional investors, such as the National Pension Fund, to invest in digital assets under appropriate regulatory frameworks.
Establishment of a Digital Asset Committee: A dedicated committee will be formed to oversee the development and implementation of policies like the 'Basic Law on Digital Assets,' ensuring a structured approach to digital asset regulation.
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📊 Current Cryptocurrency Market Snapshot
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President Lee's proactive stance on cryptocurrency reforms signals a significant shift in South Korea's approach to digital assets, potentially positioning the country as a leader in the global crypto economy.
