South Korea Introduces Bold Crypto Regulations Ahead of Presidential Elections

South Korea’s ruling party, the People Power Party (PPP), has unveiled a seven-point vision for the cryptocurrency sector, signaling a potential shift in the country’s regulatory landscape. The most notable proposal is the removal of the contentious "one exchange, one bank" rule, which has long restricted crypto exchanges to operating with a single banking partner and mandated real-name transactions. This move aims to address industry criticisms while maintaining anti-money laundering safeguards.

The PPP’s regulatory roadmap also includes plans to permit spot crypto ETF transactions, a development that could significantly broaden institutional participation in the digital asset market. These proposals emerge as the nation prepares for presidential elections, positioning cryptocurrency regulation as a key policy battleground.