The media allowed a softening of crypto regulation in South Korea after the election
The South Korean government formed following the upcoming elections in April may ease some regulations on digital assets. This is reported by DL News.
The journalists noted that the two main political forces — the People's Power Party and the Democratic Party of Korea — are considering approving spot bitcoin ETFs.
Such plans are at odds with the position of the FSC, which warned about the inaccessibility of retail customers' access to such tools. On January 11, the agency confirmed its commitment to the rule that restricts the launch of exchange-traded products based on digital gold.
Other proposals include postponing the entry into force of the tax policy on cryptocurrencies for at least two years.
The initiator is the People's Power Party. According to its representatives, additional time will be required for more thorough preparation for the new fiscal regime.
According to the publication, the new government may also consider other measures to ensure the protection of retail customers.
According to statistics, 16,000 reports of crimes in the field of cryptocurrencies were registered in 2023. Over the year, the indicator increased by 49%.
