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South Korea’s Ruling Party Pledges Spot Crypto ETF Approval By Year-End
South Korea’s Ruling Party Pledges Spot Crypto ETF Approval By Year-End
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South Korea’s ruling People Power Party has unveiled sweeping crypto reforms, including the approval of spot cryptocurrency exchange-traded funds and a revamp of the nation’s digital asset framework. The announcement comes amid heightened political tensions following the impeachment of President Yoon Suk Yeol, setting the stage for a snap presidential election in June.
The pledge to legalize spot crypto ETFs aims to align South Korea with global financial markets, mirroring recent developments in the U.S. This move could significantly boost institutional participation in cryptocurrencies, though the political upheaval adds uncertainty to the timeline.
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