South Korea to Ease Crypto Regulations After Elections

After the upcoming April elections in South Korea, the newly formed government may ease regulations on digital assets, as reported by DL News.

Journalists have noted that two major political parties, the People Power Party and the Democratic Party of Korea, are discussing the possibility of approving spot Bitcoin exchange-traded funds (ETFs).

However, this is in contrast with the stance of the Financial Services Commission (FSC), which has warned that such tools will not be available to retail clients.

On January 11, the agency reaffirmed its commitment to the rule that restricts the launch of exchange-traded products based on digital assets.

The People’s Power Party has proposed a delay of at least two years in the implementation of the cryptocurrency tax policy, stating that additional time is needed for thorough preparation for the new fiscal regime.