🕯 The ruling People’s Party of South Korea proposed an urgent reform of the crypto market, which includes the legalization of spot ETFs and the abolition of the 'one exchange - one bank' model, which limits competition and user choice.
🟢 Key initiatives:
🔴 Approval of spot cryptocurrency ETFs (analogous to the USA)
🔴 Abolition of monopolies: exchanges will be able to cooperate with multiple banks simultaneously
🔴 Involvement of over 3,500 companies and funds in trading digital assets
🔴 Creation of a Virtual Assets Committee under the President
🔴 Adoption of a framework law on digital assets: listing, disclosure, standards
➡️ All this will become a reality if the party wins the elections on June 3.
By the end of 2025, the authorities plan to implement the first steps towards legalization.
🌐 Experts believe:
The reform will open access for institutional investors, reduce risks, and make South Korea one of the leaders in crypto regulation in Asia.
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