People Power Party Announces Virtual Asset Pledge Including Abolishing One Exchange One Bank Rule and Allowing Corporate Investment

The People Power Party announced on the 28th its virtual asset (cryptocurrency) policy as a presidential pledge, including the abolition of the one exchange one bank principle.

According to the industry, People Power Party members Park Soo-min and Choi Bo-yoon stated at the party's emergency countermeasures committee meeting that "under the goal of becoming a global digital asset market G2, the People Power Party promises the public seven major initiatives to foster the digital asset industry ecosystem in Korea."

The regulatory easing pledges proposed by the People Power Party include △abolishing the one exchange one bank principle △institutionalizing virtual asset transactions for corporations and institutional investors △introducing virtual asset spot ETFs (Exchange Traded Funds) △legislating token securities (STO) △introducing a regulatory framework for stablecoins △enacting a basic law for digital asset promotion △introducing and establishing a groundbreaking virtual asset taxation system.