STO

According to ChainCatcher, South Korea’s National Power Party announced that it would abolish policies such as the “one exchange, one bank” system for virtual assets as a core promise for the presidential election.

The party’s proposed policies include lifting the restriction that “one exchange can only connect to one bank”, promoting the legalization of virtual asset transactions by corporate and institutional investors, introducing virtual asset spot ETFs, advancing STO legislation, establishing a stablecoin regulatory framework, formulating the (Basic Law on the Revitalization of Digital Assets), and building an innovative virtual asset tax system.

These policies aim to comprehensively reform the regulatory framework of South Korea’s virtual asset market and promote the healthy development of the digital asset industry.