People Power Party: “Kim Munsu will achieve innovation in virtual assets… will abolish the ‘one exchange–one bank’ principle”

The People Power Party stated that candidate Kim Munsu has a deep understanding of the virtual asset (cryptocurrency) industry and that he will strive to establish regulations for the advancement of the virtual asset industry. In particular, they reiterated their promise to abolish the ‘one exchange–one bank’ principle.

On the 30th (Korea Standard Time), Park Sumin, head of new media content for the People Power Party's election committee, participated in the 'Digital Asset Industry Policy Meeting with the People Power Party' held at the main building of the National Assembly and said, “Political stability is required for economic stability,” adding, “There was the ‘Park Sang-ki chaos’ during the Moon Jae-in administration, and afterwards, during the Yoon Seok-youl administration, there were efforts to promote the virtual asset industry, but it is true that speed and content were lacking.”

From this perspective, she also emphasized the strengths of candidate Kim. Park stated, “Candidate Kim is the person who conceived the GTX,” and added, “Just as many citizens now use GTX, he will bring about innovation.”

Furthermore, she promised to promote the advancement of the virtual asset industry through the seven major campaign promises related to virtual assets.

Park said, “The People Power Party will completely focus on establishing regulations for the virtual asset industry during this election,” and emphasized, “As mentioned before, the ‘one exchange–one bank’ principle will be abolished. It is right for the industry to create fair competition and move toward survival of the fittest.”

Previously, the People Power Party had announced its seven major virtual asset pledges, including the abolition of the ‘one exchange–one bank’ principle, ▲ institutionalization of virtual asset trading for companies and institutions, ▲ approval of spot ETF trading for virtual assets within the year, ▲ completion of legislation for Token Securities (STO), ▲ introduction of a regulatory framework for stablecoins, ▲ enactment of a basic law to foster digital assets, and ▲ improvement of the institutional framework including a groundbreaking tax system.