#SouthKoreaCryptoPolicy

The Democratic Party formed a Digital Asset Committee led by lawmaker Min Byoung-dug, who is aiming to pass DABA through the National Assembly this year.

Min said in a recent local media interview that the bill will propose a legally recognized self-regulatory body, a stablecoin approval system and clearer rules for crypto service providers.

Lee also championed approving spot crypto exchange-traded funds (ETFs), which are currently banned under existing law, and allowing the National Pension Service to invest in digital assets.

Regulatory discussions on crypto ETFs were already heating up before the election, and the Financial Services Commission has launched a phased strategy to bring institutional investors into crypto. His main election rival, Kim Moon-soo, backed the same initiatives.