TLDR:
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South Korea's People Power Party (PPP) proposes legalizing spot crypto ETFs in 2025.
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Plans to remove the “one exchange, one bank” rule for crypto firms.
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Election day is June 3, following President Yoon’s impeachment.
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Proposals include security tokens, stablecoin laws, and a new digital asset bill.
Crypto Takes Center Stage in South Korean Election
With a presidential election looming, South Korea’s ruling People Power Party unveiled a set of crypto-friendly initiatives. The party promised to legalize spot crypto ETF trading and relax banking restrictions for exchanges, aiming to attract both industry and voter support.
Removing Barriers for Crypto Exchanges
A key policy would eliminate the “one exchange, one bank” rule, which currently forces each crypto exchange to partner with a single bank. Lawmakers argue this restricts innovation and hampers growth in the sector.
Spot Crypto ETFs by Year-End
PPP lawmakers said spot crypto ETFs should be approved within the year, noting high trading volumes in the U.S. as a strong precedent. Both major political parties support ETF liberalization, signaling bipartisan momentum.
More Legislation on the Horizon
The PPP also plans to legalize security tokens, regulate stablecoins in line with global standards, and propose a “Digital Asset Promotion Basic Act.” A special crypto committee will be formed to oversee these efforts under the party’s presidential candidate.
