The ruling party in South Korea proposes immediate trading and banking reform for banking and banking reform

While South Korea is heading to its upcoming presidential elections to be held on June 3, the People’s Authority (PPP) foot A wide range of coding policy proposals aimed at reshaping the country’s digital asset market.
At a meeting held on Monday in the National Assembly, the Pakistani People’s Party identified seven new initiatives that include raising the main restrictions on banks that work with encryption exchange and the introduction of legal frameworks to support the development of symbolic assets and boxes circulating on the stock exchange (ETF).
The proposals come in a transitional political environment after the isolation and removal of President Yoon Sok Yol in April. As the electoral fee is approaching, the PPP policy towards regulating digital assets is a strategic step to involve the growing population of encryption users and investors in the country.
South Korea has historically maintained a strict supervision system on encrypted currency markets, especially in response to previous concerns about money laundering and speculative trading activity.
Crypto ETFS and exchange rules at the PPP reform plan center
Among the most prominent measures announced by PPP is a plan to raise the current restriction that limits the exchange of encryption for partnership with only one bank for real names accounts.
The “Exchang, One Bank” base was originally presented by the financial authorities to increase transparency and monitor suspicious financial activity. However, critics have argued that the base may restrict competition and limited banking access to the new or smaller exchange exchange.
In addition, PPP has pledged to legitimize the trading of investment funds in South Korea before the end of the year. SOO-MIN Park-MIN noted that the Bitcoin ETF boxes in the United States have already gained great attention and trading volume.
According to Park, the continuous delay of South Korea to agree to such products can put it in a competitive position in the rapidly advanced international digital assets. While both PPP and the Democratic Party have previously expressed interest in lifting the ETF ban, this is the clearest PPP commitment so far.
Organizational obligations include a stablecoin framework and security symbols
Politics Map also includes plans to create a legal framework for the distinctive symbol offers (STOS) and create comprehensive instructions for the issuance and organization of Stablecoins.
The goal, according to party officials, is to comply with global standards and provide organizational clarity for both exporters and investors. These efforts will be supported by the introduction of the “Basic Law for the Promotion of Digital Assets”, a legislative proposal aimed at forming the long -term encryption policy in the country.
To oversee these initiatives, PPP plans to launch a dedicated encryption policy committee under the leadership of its presidential candidate.
The committee will focus on encouraging responsible innovation, supporting the local encryption industry, and restoring the investor’s confidence after a period of increased organizational scrutiny.
Looking at all these things in play, South Korea can be greatly affected in the global digital asset market, depending on the results of the June elections and the subsequent implementation of these political changes.
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