People Power Party seeks US cooperation for digital asset industry promotion…promises institutional support

On the 30th, People Power Party holds 'Digital Asset Industry Policy Meeting'

Promoting the industry through seven key cryptocurrency pledges

Emphasizing policy distinction from the Democratic Party

5 major exchanges express anticipation for institutional support

The People Power Party has stated its intention to drive industry growth by fulfilling seven key commitments for virtual assets (cryptocurrency). In particular, candidate Kim Moon-soo, noting the high interest in digital assets, emphasized, "We will seek cooperation with the US."

Park Soo-min, a member of the People Power Party, said at the 'Digital Asset Industry Policy Meeting with People Power Party' held at the National Assembly on the 30th, "Korea has not yet provided a sufficient environment for the digital asset industry to thrive," adding, "People Power Party seeks to contribute to the growth of the virtual asset industry through these seven pledges." Park continued, "When we recognize the phenomenon of virtual assets brought by blockchain technology as an economic activity—when there is a proper system in place—the industry can develop."

Choi Bo-yoon, another party member, stated, "Candidate Kim Moon-soo also shares the view on the importance of digital assets," and added, "He has a vision for building a sound ecosystem and a strong will to make it happen."

The People Power Party, in line with the early presidential election, has announced the following seven virtual asset policy pledges: ▲ Abolishing the one-exchange-one-bank rule, ▲ Institutionalizing crypto trading for companies and institutions, ▲ Allowing spot ETF trading within the year, ▲ Completing legislation for token securities (STO), ▲ Introducing a regulatory framework for stablecoins, ▲ Enacting a Digital Asset Promotion Act, and ▲ Overhauling tax systems—including breakthrough tax regimes.

"Supporting healthy competition…Different from the Democratic Party"

Especially, the People Power Party emphasized the differentiation of its virtual asset platform from the Democratic Party. Park said, "Previously, the Democratic Party stated it would maintain the one-exchange-one-bank rule. I want to ask why they want to maintain it." He reaffirmed, "There is no change in People Power Party's position to abolish this rule," stressing, "It is right for the industry to compete in good faith and progress through survival of the fittest."

There is also a notable difference in terms of global expansion. Choi explained, "As far as I know, candidate Lee Jae-myung of the Democratic Party intends to take time negotiating with the US, whereas candidate Kim Moon-soo, if elected, will immediately start negotiations." She further added, "There are plans to discuss tariffs and digital assets directly with President Trump." Park also noted, "We will strive together with the US so a close industrial revolution can take place."

The party also announced plans to promote 'venture certification' for blockchain companies. Previously, some blockchain companies that registered as virtual asset businesses with the financial authorities had their venture certifications cancelled. Choi said, "Although many Korean blockchain companies have left for overseas, there should be companies wishing to return to Korea," and explained, "Implementing venture certification for virtual asset businesses will greatly aid job creation domestically."

Industry: "Satisfied with PPP's seven pledges…Expecting institutional support"

Moreover, the meeting included a session where the representatives of the nation's five major exchanges—including Upbit—presented their views.

First, Lee Seok-woo, CEO of Upbit operator Dunamu, said, "Although spot ETF and derivative trading is permitted in major world economies, it is banned in Korea," noting, "Korea is falling behind in terms of global innovation and shadow regulations are still unresolved." He added, "The People Power Party's pledges—such as introducing a virtual asset spot ETF and driving global expansion of local exchanges—are timely. If only there is further policy support, Korea can become a powerhouse in digital assets."

Lee Jae-won, CEO of Bithumb, commented, "From the perspective of growing blockchain technology's potential, the seven pledges are meaningful," stating, "Digital assets are not just a simple investment tool but a core infrastructure of future finance. The government, National Assembly, and the industry must build growth foundations together."

Cha Myung-hoon, CEO of Coinone, said, "Although digital assets are a core infrastructure of the future economy, domestically the industry faces policy uncertainty and excessive competition structure," adding, "We need opportunities that reflect substantive circumstances, not just formality, as well as well-ordered policies for contingencies and an environment for autonomous market development."

Choi Han-gyeol, Vice President of Streami (operator of Gopax), pointed out, "There has not been much fundamental change between the policy pledges of three years ago and those of this election," stating, "The regulatory system based on the Special Financial Transactions Act remains incomplete and business operator status is still unstable." He stressed, "Clearer institutional standards are needed so that discretionary administration by officials does not become excessive."

Lastly, Oh Se-jin, CEO of Korbit and chairman of DAXA, said, "From the standpoint of securing global competitiveness in the Korean digital asset market, the seven pledges are crucial," adding, "I hope the pledges lead to industry development."