Democratic Party: "Introduction of Bitcoin ETF is Symbolic... Will Continue Discussions"

The Democratic Party stated that regarding the introduction of spot Exchange-Traded Funds (ETFs) for virtual assets like Bitcoin (BTC), they plan to "continue discussions on the necessary elements."

Min Byung-deok, Chairman of the Digital Asset Committee under the Democratic Party's Election Strategy Committee, said on the 16th, "Allowing the issuance, listing, and trading of spot ETFs based on Bitcoin and other assets is one of the Democratic Party's presidential election pledges," and "We plan to continue discussions on the necessary elements for operating digital asset spot ETFs."

Chairman Min emphasized, "The introduction of digital asset spot ETFs can have symbolic significance for the expansion of the domestic digital asset ecosystem and its incorporation into the institutional framework." He continued, "(With the introduction of ETFs) digital assets can be included as eligible assets, allowing participation from institutional investors like the National Pension Service, and being recognized as financial assets can reduce custody risks, simplify accounting, and address existing market drawbacks such as the domestic and international digital asset price gap (Kimchi Premium)."

He also mentioned follow-up measures. Chairman Min stated, "The Digital Asset Committee will strive to improve related policies and systems as follow-up measures for digital asset spot ETFs, such as amending the Capital Markets Act to include digital assets as underlying and trust assets."