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South Korea's main right-wing political party is promoting the formulation of new laws to promote the development of the Crypto Assets industry.
On April 25, according to local news agency Newsis, South Korea’s main right-wing party, the People Power Party (PPP), officially announced on Friday that it will promote a new bill aimed at developing South Korea’s crypto assets industry. The forthcoming bill is named the “Basic Law for the Promotion of Digital Assets,” and its details will be announced next Monday. In addition, South Korea’s financial regulatory authorities are also working to ease strict regulations on crypto assets. The Financial Services Commission announced in January of this year that it would gradually lift the ban on institutional investors investing in crypto assets. A representative from the Financial Services Commission said earlier this month that it may consider opening the currently restricted local market trading doors to foreign investors.