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South Korea Blocks Lending Services

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South Korea’s financial regulator has ordered a stop to all crypto lending on local exchanges, saying the fast-growing products lack proper rules and pose risks.

The Financial Services Commission (FSC) issued administrative guidance that takes effect immediately and will stay in place until new lending rules are written.

Regulator Moves To Halt Crypto Lending

According to the FSC, exchanges must suspend services that let users borrow against crypto or fiat deposits. Existing loans are not being wiped out; borrowers can still repay or extend under current contracts.

Reports say the order is an administrative step, not a criminal ban, but platforms that ignore it may face on-site inspections from authorities.

South Korea confirms that the only “investment” the U.S. is getting out of them is in the form of high interest rate loans.

Just like Japan. pic.twitter.com/REDeuP8DvC

— Spencer Hakimian (@SpencerHakimian) August 4, 2025

Rapid Uptake And Big Numbers

Based on reports, lending offerings exploded after early July. Upbit launched a program letting customers borrow up to 80% of the value of their deposits, using USDT, Bitcoin and XRP as collateral.

Rival Bithumb offered loans worth up to four times a customer’s holdings, and other local platforms quickly followed.

One company’s first month drew roughly 27,600 investors who borrowed about 1.5 trillion won ($1.1 billion), according to the regulator. Market swings pushed about 13% of those borrowers into liquidation, the FSC added.

BTCUSD trading at $115,564 on the 24-hour chart: TradingView

Liquidations And Stablecoin Strain

Reports have disclosed an unusual sell-off in USDT tied to the lending push, and that move briefly disturbed stablecoin pricing on some Korean platforms.

Forced liquidations and a sudden rush to sell can magnify losses for ordinary users, which is exactly what alarmed regulators. That mix of heavy borrowing and market stress is what the FSC flagged as a systemic worry.

Exchanges Pivot As Rules Loom

Upbit and Bithumb had already paused lending once in July; Bithumb later resumed under stricter terms before this fresh suspension.

At the same time, industry players are preparing for more regulated business: Dunamu, which runs Upbit, unveiled a custody service that stores assets in cold wallets for corporate and institutional clients.

Reports also point to the ruling party’s Digital Asset Basic Act, a proposal that would formally allow lending services inside exchange operations — but only once rules are set.

Push For Rules While Opening New Doors

Officials say they will move quickly to build a clear rulebook for digital asset lending to protect users and keep markets steady.

South Korea appears to be loosening other curbs: authorities are clearing the way for the country’s first spot crypto ETFs and are working on a won-pegged stablecoin framework.

That shows regulators want to encourage safer forms of crypto access, while trimming riskier retail products.

Featured image from Verdict, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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NFT Gaming

South Korea’s New Stablecoins Framework Coming In Q4

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South Korea’s financial authority is expected to release the long-awaited regulatory framework next quarter, offering clear guidelines for the issuance and distribution of won-pegged stablecoins.

Stablecoin Guidelines By October

On Monday, local news media outlets reported that South Korea’s financial regulator, the Financial Services Commission (FSC), is expected to release a bill for a stablecoin pegged to the Korean won (KRW) within two months.

According to MoneyToday, a member of the Democratic Party of Korea (DPK), Park Min-kyu, confirmed that he had “recently received a report from the FSC on the direction of stablecoins,” affirming, “The government’s bill is expected to be submitted to the National Assembly around October.”

The bill is anticipated to be included in the second phase of the Virtual Asset User Protection Act. Notably, the FSC has been working to develop digital assets legislation and shift its regulatory approach for over a year, establishing the Virtual Asset Committee in November to prepare the next phase of its plan and finalize it by the second half of 2025.

The second phase of the Virtual Asset User Protection Act includes regulations on the distribution of digital assets and stablecoins, continuing its efforts to align with global standards. The FSC’s Vice Chairman Kim So-young previously stated that the Korean government was “speeding up efforts” to develop the Korean crypto market while protecting users.

Attention will be focused on the content of the rules, the report affirmed, as the FSC plans to unveil a regulatory framework outlining requirements for issuing won-pegged stablecoins, collateral management, and internal control systems, which have been a concern among both the crypto and banking industries.

The FSC’s Secretary-General warned in January that the regulator needed to address listing standards, how to deal with stablecoins, and how to create rules for the behavior of virtual asset exchanges.

Meanwhile, the banking sector has been studying two legalization scenarios, since it remains unclear whether non-bank entities will be allowed to be stablecoin issuers. Financial institutions have also been considering a business model in which banks establish a joint venture to issue stablecoins.

Stablecoins’ Momentum In South Korea

As the new media outlet noted, institutionalization of won-pegged stablecoins has gained significant attention after President Lee Jae-myung pledged it during his presidential campaign. The electoral promise, which also vowed to address the status of crypto-based exchange-traded funds (ETFs), followed the US’s regulatory shift under the Trump administration and its push for USD-pegged stablecoins, which currently lead the sector.

Previously, the chairman of the South Korea Stock Exchange, Jeong Eun-bo, urged authorities to institutionalize crypto in the country, noting that the Korean market needs to be revitalized to compete with other nations and prevent falling behind international markets.

Over the past two months, multiple bills related to the issuance and distribution of KRW-pegged stablecoins have been introduced in South Korea’s National Assembly. As reported by Bitcoinist, Korea’s ruling and opposition parties proposed rival bills in July to establish the highly anticipated regulatory framework for digital assets pegged to the Korean won.

Member of the Planning and Finance Committee from the Democratic Party, Ahn Do-gil, introduced the “Act on the Issuance and Distribution of Value-Stable Digital Assets,” while member of the Land, Infrastructure, and Transport Committee from the People Power Party (PPP), Kim Eun-hye, proposed the “Act on Payment Innovation Using Value-Fixed Digital Assets.”

Both bills share several similarities, including the assignment of stablecoin oversight to the Financial Services Commission (FSC). However, the two proposed legislation differ in the issue of interest payments, with the PPP’s bill allowing interest payments and the DPK’s bill completely banning interest payments to prevent market disruption.

Min Byung-deok, a member of the National Assembly’s Government Committee, also introduced the “Digital Assets Basic Act” in June, which proposes allowing the issuance of won-pegged stablecoins and establishing a Digital Asset Committee under the direct authority of the president.

Amid the global push for stablecoins, Korean individuals investing in overseas stocks have reportedly shifted from US big tech equities to crypto-linked stocks, with a focus on stablecoin-related companies throughout July, suggesting growing interest in the sector.

Bitcoin (BTC) trades at $116,082 in the one-week chart. Source: BTCUSDT on TradingView

Featured Image from Unsplash.com, Chart from TradingView.com

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South Korea lifts 26-year ban on foreign goalkeepers in the K League

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Jun 20, 2025, 06:40 AM ET

A 26-year ban on foreign goalkeepers in South Korea’s top flight has been lifted for the start of the 2026 season.

Only Korean goalkeepers have been allowed to play in the K League — the oldest professional domestic league in Asia — since 1999. The rule was introduced in a bid to protect homegrown talent when there were only 10 professional clubs.

The K League announced after a board meeting in Seoul this week that because there’s now 26 professional clubs in the top two tiers of competition, there’s enough room for international goalkeepers.

Former Manchester United forward Jesse Lingard plays for K League side FC Seoul MB Media/Getty Images

“The increase in the number of clubs means that there are enough opportunities for domestic goalkeepers to play even if foreign goalkeepers are allowed,” the board said in a statement.

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“We considered the fact that with foreign player registrations restricted, the salary increase rate of domestic goalkeepers has increased disproportionately to outfield players.”

There were reportedly concerns, due to the increased size of modern rosters which contain three or four goalkeepers, that there’s a shortage of quality keepers in the country.

The move will put the K League in line with other major Asian leagues in Japan, Saudi Arabia and China.



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Crypto Trends

South Korean Regulators Prepare for Spot Crypto ETFs This Year

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In brief

  • The FSC has submitted an implementation plan for spot crypto ETFs to the Presidential Committee.
  • Korean won-based stablecoins are also set for regulatory approval by year-end.
  • The move reverses a previous ban from 2017, which cited concerns about financial stability.

South Korea’s Financial Services Commission submitted plans Thursday to introduce spot crypto ETFs by the second half of 2025, marking a reversal of the country’s previously restrictive crypto policies as a new government takes the helm.

The roadmap, filed with the Presidential Committee on Policy Planning, outlines implementation measures for spot crypto ETFs while establishing investor protection frameworks, including custody, operation, and evaluation standards, according to an initial report from Yonhap, the country’s largest news agency.

The plan would take into account “risks related to the linkage of financial and virtual asset markets, the impact on the real economy, and investor benefits,” the FSC stated in its report to the State Affairs Planning Committee.

The FSC’s plan also includes lifting restrictions on Korean won-based stablecoins, addressing concerns about domestic capital outflow. The commission previously banned crypto ETFs, citing financial stability risks and viewing cryptocurrency as unsuitable base assets.

But while the plans are ambitious, their details are not final and would still need to be discussed by the country’s lawmakers, the regulator said.



“The specific details of the matters discussed in the National Planning Committee’s briefing are difficult to confirm and have not been finalized,” a rough translation of a statement issued Friday by the FSC reads.

The commission is also working to process phased approvals for institutional crypto trading, signaling broader reform that could see market liberalization.

Those regulatory shifts appear to fulfill President Lee Jae-myung’s campaign pledge to approve spot crypto ETFs, following the successful U.S. launch that channeled billions in institutional capital and propelled Bitcoin to record highs.

The newly elected government’s friendly stance to crypto has since continued. Earlier this month, he proposed the Digital Asset Basic Act, which, if approved, would allow local companies to issue their own stablecoins.

Industry observers expect the ETF launch to follow similar risk assessment protocols used in traditional markets, in particular “around regulatory frameworks, monetary policy coordination, and technical implementation,” Min Jung, an analyst at Presto Research, told Decrypt earlier this month.

Edited by Sebastian Sinclair

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South Korea Moves Forward With Crypto Regulation, Eyes Stablecoin Oversight
Crypto Trends

South Korea Moves Forward With Crypto Regulation, Eyes Stablecoin Oversight

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A South Korean lawmaker has introduced a comprehensive bill aimed at establishing a more structured regulatory environment for crypto assets in the country. The proposed legislation, known as the Digital Asset Basic Act, was announced Tuesday by Min Byeong-deok, a member of the ruling Democratic Party.

The bill is designed to complement the Virtual Asset Investor Protection Act, which took effect in July 2024, by going beyond investor safeguards to define a broader legal foundation for digital asset activity.

Aligning with Global Stablecoin Trends

At a press conference, Min described the bill as a step toward positioning South Korea as a global leader in the digital economy. A key feature of the legislation is the implementation of a licensing system for stablecoin issuers.

Under the proposed rules, stablecoin operators would be required to hold a minimum of 500 million Korean won (approximately $367,890) in owner’s capital to qualify for a license. This requirement is intended to ensure financial accountability and support the government’s broader goal of promoting Korean won-denominated stablecoins.

The stablecoin licensing provision appears to support the administration’s broader policy agenda under President Lee Jae-myung, who previously committed to enabling a domestic stablecoin market.

Min, who led the digital asset committee during President Lee’s election campaign, indicated that the measure aims to curb capital flight through foreign-currency-based stablecoins and support a robust local digital financial system.

The legislative push follows similar developments in other jurisdictions. In the United States, the Genius Act, which addresses stablecoin regulation, is gaining traction with support from President Donald Trump. Meanwhile, Hong Kong recently enacted its own licensing framework for stablecoin issuers.

These international examples appear to inform South Korea’s approach, as Min highlighted parallels with regulatory practices in the US, European Union, and Japan,particularly regarding the issuance, distribution, and trading of digital assets.

Establishing Broader Oversight of Digital Assets

Beyond stablecoins, the Digital Asset Basic Act seeks to provide legal clarity on digital asset classifications and the responsibilities of service providers operating within the ecosystem.

The bill includes provisions for the creation of a Digital Asset Committee to be directly overseen by the Office of the President, emphasizing a centralized oversight mechanism.

In addition to structural reforms, the proposed legislation outlines legal frameworks to address market misconduct. These include penalties for unfair trading practices such as price manipulation or the dissemination of false information, areas not directly addressed by prior laws.

The bill also includes measures to standardize compliance procedures for exchanges and custodians operating in the country. If enacted, the Digital Asset Basic Act would mark a significant step in the evolution of South Korea’s crypto regulatory space.

As jurisdictions around the world continue to develop their approaches to digital finance, South Korea’s proposed framework positions it among the countries seeking to balance innovation with oversight. The bill is expected to undergo further review and discussion in the National Assembly in the coming months.

The global digital currency market cap valuation. | Source: TradingView.com

Featured image created with DALL-E, Chart from TradingView

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GameFi Guides

South Korea Stablecoin Bill to Allow Companies to Issue the Tokens: Report

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In brief

  • Crypto-friendly Lee Jae-myung won the presidency in South Korea last week.
  • He is now pushing ahead with a stablecoins bill.
  • If approved, the law would allow companies to issue their own stablecoins.

South Korea’s newly elected president pushed ahead with a crypto-friendly agenda on Tuesday, announcing new stablecoin legislation, according to reports. 

As first reported by Bloomberg, Lee Jae-myung, proposed the Digital Asset Basic Act—a law which, if approved, will allow companies to issue stablecoins if they have 500 million won ($366,749) in equity capital. 

Stablecoins are digital tokens pegged to the value on a non-volatile asset—typically the U.S. dollar. Such cryptocurrencies run on a number of different blockchains and are supposed to be backed by reserves of the stable asset. 

Crypto is popular in South Korea and Jae-myung—who won the election last week—is friendly toward the space. The Democratic Party leader in 2022 experimented with NFTs during his previous campaign and has said he will allow Bitcoin ETFs to trade in the country. 

He has also proposed launching a won-pegged stablecoin to prevent capital flight, saying that the country urgently needs “to prevent national wealth from leaking overseas.”



And the Bank of Korea last month said it was considering issuing deposit tokens on a public blockchain to coexist with private stablecoins.

Stablecoins are a hot topic in the crypto industry: Regulators have been fighting over how to control the assets for years; President Trump backs one digital token; and lawmakers in Washington will vote on a stablecoin bill this week. 

A number of high-profile businesses and banks are also weighing—or have already—launched stablecoin products. 

Edited by James Rubin

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South Korea’s Democratic Party advances Digital Asset Basic Act to regulate crypto
NFT Gaming

South Korea’s Democratic Party advances Digital Asset Basic Act to regulate crypto

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South Korea’s Democratic Party has formally proposed the Digital Asset Basic Act, introducing a stablecoin licensing regime and expanded oversight under President Lee Jae-myung’s administration.

During a June 10 press conference, lawmaker Min Byeong-deok announced the bill’s submission, calling it a foundational step toward comprehensive regulation of digital assets, including stablecoins, cryptocurrencies, and related service providers. 

Min said the legislation was designed to enhance transparency and investor protection while positioning South Korea as a global leader in the digital economy.

The Digital Asset Basic Act builds on the existing Virtual Asset Investor Protection Act, which came into effect in July 2024.

While the previous legislation focused primarily on safeguarding investors, the new proposal outlines a broader framework that defines digital assets, establishes new licensing and approval systems, and mandates oversight mechanisms under the Financial Services Commission.

A key feature of the bill is the licensing requirement for issuers of Korean won-backed stablecoins. 

Notably, issuers must maintain a minimum capital of ₩500 million (approximately $367,890) and obtain approval from the Financial Services Commission. 

Additionally, they must implement safeguards such as bankruptcy remoteness and reserve management to ensure user redemption rights even if the stablecoin issuer becomes insolvent.

Furthermore, the regulations lay the groundwork for regulating all digital asset issuances and trading activities. It includes provisions to establish a Digital Asset Committee under the President’s office to coordinate national digital asset policy.

Meanwhile, a separate entity dubbed the Digital Asset Industry Association would be tasked with monitoring market practices and evaluating the eligibility of tokens for exchange listings through dedicated subcommittees.

To address market misconduct, the bill grants the Financial Services Commission investigative authority and empowers it to impose penalties for unfair trading activities. It also introduces approval, registration, and reporting requirements for companies operating in the digital asset sector.

The introduction of the Digital Asset Basic Act comes just days after President Lee Jae-myung’s inauguration on June 4. Lee, who won the presidency with over 49% of the vote, had campaigned on a platform that included strong support for digital asset adoption and regulatory clarity.

His campaign proposals included legalizing spot crypto ETFs, expanding institutional access to digital assets, and enabling the nation’s pension fund to allocate capital into crypto markets.

Min Byeong-deok, who led the party’s digital asset committee during Lee’s campaign, has advocated for broader crypto regulation but has placed particular emphasis on the urgency of launching a domestic stablecoin framework to counter U.S. dollar-backed tokens like USDC and USDT.



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Odds for South Korea Crypo Reform Rise as Lee Jae-Myung Wins Presidency

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In brief

  • Lee Jae-myung won South Korea’s snap election after former president’s impeachment over martial law.
  • He pledged to legalize Bitcoin ETFs and launch won-pegged stablecoin to curb capital flight.
  • The inauguration is set for July 17, with Lee promising for AI and semiconductor investments and shorter work week.

A country shaken by martial law just six months ago has elected a new leader with plans for crypto reform.

Lee Jae-myung, the leader of South Korea’s Democratic Party, was sworn in as President on Wednesday after securing a decisive victory in a June 3 snap election.

With 99% of votes counted, Lee won 49.42% to rival Kim Moon-soo’s 41.15%, amid a historic 79.4% voter turnout, the highest since 1997.

The snap election came as a result of former president Yoon Suk-yeol’s impeachment in December for declaring martial law in a failed power grab that paralyzed the nation’s legislature.

Lee, who narrowly lost to Yoon in 2022, had used that earlier campaign to experiment with NFTs bearing his image and pledges, in an effort to connect with younger voters.

In his latest run, he expanded on those ideas, pledging to legalize spot Bitcoin exchange-traded funds (ETFs) and launch a won-pegged stablecoin to prevent capital flight.

“We need to establish a won-backed stablecoin market to prevent national wealth from leaking overseas,” he said during a May policy forum.

“With Lee Jae-myung now elected, the likelihood of seeing a spot ETF approved has significantly increased,” Min Jung, an analyst at Presto Research, told Decrypt.



“It’s somewhat ironic that South Korea—one of the most crypto-active countries globally—still lags behind peers like the U.S. and Hong Kong on this front,” Jung said.

However, Jung warned that other initiatives, like launching a stablecoin, “will require more careful deliberation, particularly around regulatory frameworks, monetary policy coordination, and technical implementation.”

In Q1 2025, South Korean exchanges moved $40.6 billion in crypto abroad, nearly half in stablecoins like USDT and USDC, raising concerns over capital outflows that Lee’s proposed won-backed stablecoin aims to curb.

Lee’s full inauguration will take place on July 17, Constitution Day, in a symbolic “Appointment Ceremony” that his office says reflects his belief that “the people appoint the president.”

Apart from crypto, Lee has promised a “pragmatic and market-oriented” economic policy that includes investments in AI, semiconductors, and defense technology, as per a Yonhap News report.

He’s also advocating for a four-and-a-half-day workweek, expanded support for small businesses, tax deductions for families, and expanded elderly care services.

Former President Yoon, once hailed as a pro-crypto reformer, had promised to deregulate the industry in 2022 but achieved little during his tenure.

His administration faced pushback from the Financial Services Commission (FSC), and his term ended amid a political crisis and a freeze on key crypto bills.

Edited by Stacy Elliott.

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Meet the new South Korea president Lee Jae-myung, what is his stance on crypto?
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Meet the new South Korea president Lee Jae-myung, what is his stance on crypto?

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The new South Korea president Lee Jae-myung was recently elected after gaining nearly 50% of the votes. Here are a few of Lee’s campaign trail promises regarding crypto advancements in the region.

According to Reuters, Lee won the electoral race with more than 49% of the total votes, beating out his opponent right-wing opponent Kim Moon-soo’s 41.15%. On June 4, Lee attended his inauguration ceremony where he was officially sworn in as president.

This year’s South Korea presidential election has been a landmark race to win the favor of crypto traders and industry players in the country, considering a third of the population reportedly holds digital assets, according to Bloomberg. In fact, the Bank of South Korea recorded a total of $74.5 billion worth of assets are held by South Koreans.

As a result of this growing trend, both sides have opted for a more pro-crypto approach than ever before, promising to ease crypto regulations and expand access to digital assets. Lee himself has made promises to advance the crypto industry in South Korea, such as vowing to legalize spot crypto exchange-traded funds.

His proposal to legalize crypto ETFs was even backed by his opponent Moon-soo and the People Power Party, in a rare bipartisan alignment on cryptocurrency advancement. Both parties promised to legalize spot Bitcoin (BTC) ETFs this year.

In addition to crypto-backed spot ETFs, Lee would allow the nation’s pension fund to invest $884 billion into cryptocurrency.

If permitted, South Korean traders will be able to invest in exchange-traded funds linked to major cryptocurrencies such as Bitcoin and Ethereum (ETH).

South Korea president Lee Jae-Myung’s push for KRW stablecoins

South Korea president Lee’s party, the Democratic Party of South Korea, wants to accelerate stablecoins backed by Korean won. The move is reminiscent of the Trump administration’s own bid to advance regulations for the USD-backed stablecoins, with the STABLE Act and the GENIUS act.

Chairman of the Democratic Party’s Digital Asset Committee, Min Byeong-deok, believes South Korea must quickly establish its own line of stablecoins, before the U.S. completely controls the market. Min believes stablecoins have the potential to become “bigger than artificial intelligence or semi-conductors” in the near future.

“We need to take the lead in institutionalizing stablecoins before U.S. dollar-based stablecoins become firmly established. That is the only way we can secure a sure position in the global battle for stablecoin hegemony,” said Min in his statement.

As previously reported by crypto.news, Lee’s party is currently pushing for lawmakers to pass a a stablecoin bill, with a working draft titled “Basic Act on Digital Assets.



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Crypto Trends

1st Institutional Crypto Sale In South Korea After Ban Lift

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South Korea saw its first institutional digital assets sale following the start of its ban lift on institutional crypto transactions. The positive development came two days before the snap presidential elections, scheduled for June 3, 2025.

First Institutional Crypto Sale In South Korea

On Sunday, South Korean non-profit organization World Vision made the first digital assets sale by an institution in the country. In a statement from Dunamu, Upbit’s parent company, the crypto exchange announced that it had supported the historical first sale of 0.55 Ether (ETH) by a corporation for 1.98 million won, equivalent to $1,437.

Starting June 1, 2025, non-profit organizations, including charities and universities, are permitted to sell crypto holdings through local exchanges as part of the Financial Services Commission (FSC) roadmap for corporate participation in the digital asset market.

In February, the FSC’s Virtual Asset Committee announced it would gradually lift its ban on institutional investment in digital assets by allowing the creation of real-name accounts for institutions, starting with non-profits in Q2 2025.

In South Korea, real-name accounts are required for crypto investments, with only the accounts that have completed this verification under the Specified Financial Transaction Information Act being allowed to invest in digital assets. Nonetheless, the FSC had guided banks not to issue these accounts to corporations, limiting institutional crypto trading despite the absence of legal barriers or official bans.

As Dunamu revealed, World Vision was able to connect its K Bank corporate account to its Upbit account and successfully sold the Ethereum received as donations three months ago through the exchange’s KRW market.

Dunamu and the non-profit conducted a digital assets donation campaign in March, targeting Upbit users to purchase school uniforms, backpacks, and other essential items needed for the new school year for vulnerable teenagers who struggle to afford them.

Upbit’s parent company revealed its plan to continue supporting non-profit organizations to sell their digital assets received as donations while “adhering to guidelines established by financial authorities and the industry to establish a healthy virtual asset donation culture.”

Additionally, it announced it is preparing for the second phase of FSC’s roadmap, where qualified publicly traded companies and professional investors will be allowed to access the digital asset market in Q3 2025.

A New Era For Digital Assets?

This key development for the South Korean crypto industry will be followed by the June 3 snap presidential election to replace impeached president Yoon Suk-yeol, who attempted to declare martial law in December 2024.

Despite the outcome, digital asset investors in the country are expected to benefit, as the two major candidates vowed to implement industry-friendly policies to capture the nearly 18 million people who invest in digital assets in South Korea.

As reported by Bitcoinist, the People Power Party (PPP) candidate, Kim Moon-soo, announced he will allow spot crypto Exchange-Traded Funds (ETFs) if he wins. Kim vowed to push for approval of digital asset-based investment products and other financial policies to increase the wealth accumulation of the middle class.

Kim’s camp cited the increasing number of digital asset investors in the younger generations as a decisive factor for incorporating spot ETFs and the institutionalization of digital assets into the pledges’ list.

Meanwhile, the Democratic Party of Korea (DPK) candidate, Lee Jae-myung, also pledged to introduce spot crypto ETFs and lower digital assets transaction taxes in the country.

Lee promised to “create a safe virtual asset investment environment by establishing an integrated surveillance system” and “expand the cryptocurrency market while simultaneously strengthening investor protection.”

Ethereum’s performance in the one-week chart. Source: ETHUSDT on TradingView

Featured Image from Unsplash.com, Chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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