People Power Party "Bitcoin ETF should be allowed promptly…will push for legal amendment"

The People Power Party urged the financial authorities to allow Bitcoin (BTC) exchange-traded funds (ETF), and said they would swiftly process related legal amendments within this regular session of the National Assembly if necessary.

On the 6th (local time), the People Power Party's Special Committee on Stocks and Digital Asset Value-up said in a press release, "We urge the financial authorities to allow the Bitcoin ETF pledged in the last general election as soon as possible," adding, "If related legal amendments are necessary, we will pursue them in this regular session of the National Assembly."

At the meeting, Committee Chair Kim Sang-hoon said, "The introduction of a Bitcoin spot ETF and the participation of institutional investors in the digital asset market can act as a positive signal for the market," and "a consensus was formed that this should be actively pursued." He went on to say, "If a Bitcoin spot ETF is allowed, investors can invest in a more safe and transparent, regulated manner through securities accounts," emphasizing, "Job creation effects from market expansion are also expected."

Earlier, both the ruling and opposition parties had pledged during last April's general election to allow the domestic launch of a Bitcoin spot ETF.