South Korea Vows to Lift Ban on Spot Crypto ETFs by 2025
Key Takeaways
- The People Power Party (PPP) of South Korea has proposed a seven-point strategy aimed at establishing the nation as a leading center for digital assets.
- The proposal entails legalizing spot cryptocurrency ETFs along with security token offerings (STOs) before the year ends.
- The initiative seeks to update cryptocurrency regulations and increase involvement from established institutions in this field.
South Korea’s The governing party is indicating a significant change in cryptocurrency policy as it aims to align with contemporary standards. world leaders such as those from the U.S. and Hong Kong.
As global regulatory competition intensifies, the People Power Party (PPP) argues that it’s time for South Korea to cease lagging behind and begin taking the initiative.
Cryptocurrency ETFs On the Rapid Rise
During an urgent assembly earlier this week, PPP delegates Park Soo-min and Choi Bo-yoon laid out a comprehensive Detailed plan for the Global Digital Asset Market G2.
One of its main foundations is the legalization of cryptocurrency spot ETF Trading before the close of the year.
The organization pointed to the SEC’s endorsement of physical Bitcoin exchange-traded funds (ETFs) and the $4.6 billion in initial trading activity at the New York Stock Exchange (NYSE) as crucial milestones. They emphasized how swiftly international financial institutions have introduced novel cryptocurrency investment options.
With Hong Kong approves cryptocurrency spot exchange-traded funds (ETFs). The PPP cautioned that South Korea needs to move quickly to prevent lagging behind.
Now, South Korea cannot afford further delays," the party stated. "In order to stop obsolete regulations from hindering financial and virtual asset innovations, the People Power Party pledges to facilitate spot and ETF trading before the end of this year.
Revamping the Rules
The policy blueprint extends further than just ETFs. The PPP additionally committed to finalizing the legislation for Security Token Offerings (STOs) ,enabling the conversion of conventional assets such as property and high-value artwork into tokens using blockchain technology.
The absence of clear regulations has hindered wider involvement in tokenized securities. This new framework aims to safeguard investors, foster market confidence, and deter wrongdoing.
The PPP intends to eliminate stringent regulations such as "One Exchange, One Bank" and permit institutional trades by businesses and nonprofit organizations.
To put it briefly, South Korea’s cryptocurrency policies are set for significant changes. The introduction of spot ETFs, security token offerings (STOs), and increased access for institutions are all on the horizon. Seoul might soon become part of the international dialogue again. on digital asset innovation.
"The use of blockchain for securities is revolutionizing the financial sector by facilitating fractional ownership in areas like real estate, valuable artworks, and various types of assets," the party stated. We acknowledge the critical requirement for a strong legal structure that promotes investor safeguarding, establishes market confidence, and prevents unethical behavior.
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