South Korea will allow you to store for Spot Bitcoin ETF this year

People of South Korea Power Party has announced seven main changes in the law to improve their high-means ecosystem. One of them is a plan to start the Bitcoin ETF place within this year.

According to a report by local Media Eday, the People’s People’s People’s People’s Electricity announced trading by a digital spot property ETF will be allowed this year. For the first time, the country’s traders will be able to invest trade funds associated with the main cryptocurries such as Bitcoin (Btc) and Etherum (El).

SOO-min national team said it was time South Korea Allowed for CRIPTO’s ETFs on the market, given other countries like the United States, Hong Kong and the United Kingdom have already taken advantage.

“Hong Kong and the United Kingdom have also approved the ETF trading spot in a row. Korea has no time to postpone,” Park said.

The decision is part of a series of regulatory changes that the ruling party proposed to speed up the crypto industry in the country. Starting from the second quarter of this year, the company will be able to trade with digital assets.

So far, a total of 3,500 corporations and institutions, including 2,500 final corporations and 1,000 professional investment corporations, will be institutionalized within this year to participate in the crypto market without restrictions.

Another major breakthrough is the abolition of “one crypto exchange, one bank”. Under politics, Cripto exchanges in South Korea are allowed only to bring one bank At the same time. It was done to prevent financial crimes such as money laundering and discovering a transaction of doubt.

However, the Southern Korean government realized that this policy was extremely restrictive for the CRIPTO exchange they want to establish partnerships with several banks.

In addition, the Pover Power Party also announced the creation of Token Securities as a table account, which would include a Stablecoin Regulatory system that meets global standards, basic laws for improving digital assets and establishing a new tax system for crypto.

“We will not allow obsolete regulations of government to interfere with the growth of virtual assets that can help finance grow,” the tail said. Park.

In order to implement these changes, the Party wants to form a special virtual resources committee directly under the candidate for the President of the People’s People. The Committee plans to take a leading role in institutionalizing virtual assets, creating a foundation for industrial innovation in the landscape crypto.

According to a recent report Author: Hana Bank, young South Korean investors lean towards the crypto investments. Not only that, the data showed that more than 30% of the wealthy investors of South Korea prefers to crypt long-term investments, interest interest rates for gold or property interest.