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Keep an Eye on This Date for Bitcoin: South Korea’s Long-standing BTC ETF Ban May Be Lifted – Here’s What We Know
By: cryptosheadlines|2025/05/15 02:30:06
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Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Ki Young Ju, CEO of crypto analytics platform CryptoQuant, revealed that all three major presidential candidates in South Korea support spot Bitcoin ETFs and institutional investments.This approach is expected to have a profound impact on the electoral process, despite the fact that Bitcoin ETFs and institutional investors are not currently allowed in the country. Currently, 100% of cryptocurrency trading is done by individual investors.Democratic Party candidate Lee Jae-myung and People’s Power Party candidate Kim Moon-soo are drawing attention with bold cryptocurrency promises unseen in previous elections to win over young and middle-class voters.Both major candidates today promised to allow spot ETFs for major cryptocurrencies like Bitcoin to be traded on domestic exchanges, a move that is expected to boost the investment climate.South Korea will hold early presidential elections on June 3, 2025.Lee Jae-myung announced in a Facebook post on May 6 that they will work towards introducing spot ETFs and establishing an integrated surveillance system, saying, “We will help young people build wealth.” He also stated that crypto transaction fees will be reduced.Kim Moon-soo introduced the “Middle Class Wealth Increasing Project” as one of his election promises and stated that he planned to introduce spot ETFs within this scope. He also said in the party primaries that he would allow state institutions to invest in cryptocurrencies and give the green light to spot ETFs.But financial regulators remain cautious, citing potential risks to the financial system from virtual assets. Spot ETFs would require financial institutions to hold virtual assets, which could create volatility in financial markets.Within the scope of the “Virtual Currency Emergency Measures” that came into effect in 2017, corporate financial institutions were prohibited from holding, purchasing, providing collateral or forming partnerships with virtual currencies.Despite this, in March 2025, the ruling and opposition parties agreed to re-evaluate spot ETFs in order to revitalize the market. The fact that both parties’ presidential candidates support spot ETFs has increased expectations that the legal process in this area may accelerate.Beyond spot ETFs, presidential candidates are laying out sweeping plans to revitalize the virtual asset sector.The Democratic Party recently held its first meeting by establishing a Digital Asset Committee under its election campaign committee. The committee began discussing legal frameworks covering topics such as stablecoins, NFTs, and security token offerings (STOs). Committee Chairman MP Min Byeong-deok said, “It is time to enact the Basic Digital Asset Law that balances user protection and industry development.”The People’s Power Party announced a package of crypto promises at the emergency committee level on April 28. These include:Allowing spot ETFs,The abolition of the “one stock exchange, one bank” principle,Institutionalization of virtual asset trading among companies and institutions,Establishing a stablecoin regulation system,Enactment of the Basic Law for the Development of Digital Assets,It includes the introduction of a revolutionary new tax system.*This is not investment advice.Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!Source link
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