South Korea’s Ruling Party to Dismantle Key Restrictions and Expand Access to Crypto Trading
Share:
Predictions Markets
See what traders are focused on
- The one-exchange-one-bank rule will be scrapped to boost competition among crypto platforms.
- Corporate and institutional investors will gain full access to the crypto market by year-end.
- Spot crypto ETFs are expected to be approved within 2025, following U.S. and U.K. trends.
The People Power Party of South Korea has announced a new plan 28 to reshape the nation’s cryptocurrency ecosystem. The proposal includes seven measures to encourage digital asset adoption and innovation.
At an emergency committee meeting held at the National Assembly in Seoul, lawmakers Park Soo-min and Choi Bo-yoon presented the framework, part of the “Global Digital Asset Market G2” initiative. The proposed framework is the party’s commitment to positioning South Korea as a world leader in the digital finance space through targeted regulatory and financial reforms.
Notable proposals include easing banking restrictions, legalizing institutional participation in crypto markets, and authorizing spot cryptocurrency exchange-traded funds (ETFs).
Related: South Korea Tightens Crypto Reins, Blocks Unregistered Apps on Apple Platform
One-Exchange-One-Bank Rule to Be Scrapped…
The post South Korea’s Ruling Party to Dismantle Key Restrictions and Expand Access to Crypto Trading appeared first on Coin Edition.
Read More
Bitcoin’s $10 billion credit market keeps growing after its first major selloff
