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South Korea’s Conservative Party Pushes for Crypto Promotion Act
South Korea’s Conservative Party Pushes for Crypto Promotion Act
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South Korea’s People Power Party (PPP) is advancing a legislative proposal to bolster the nation’s cryptocurrency sector. The ’Digital Asset Promotion Basic Act’ aims to position South Korea as a global leader in blockchain technology and digital assets. Details of the bill will be unveiled next Monday.
Financial authorities are concurrently easing previously stringent regulations on the cryptocurrency market. This dual approach signals a strategic pivot toward embracing digital innovation. Policy chief Kim Sang-hoon emphasized the necessity of this shift during a recent meeting, underscoring the country’s commitment to fostering a competitive digital asset ecosystem.
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