Daniel Walker
In a strategic move to win favor with the crypto community, South Korea’s People Power Party (PPP) has unveiled a bold set of proposals aimed at transforming the country’s digital asset landscape. The announcement comes just weeks before the nation’s June 3 presidential election, signaling a strong political commitment to blockchain innovation.
One of the party’s key promises is to abolish the current banking limitation that restricts cryptocurrency exchanges to partnering with a single bank for real-name verified accounts. Originally implemented to combat money laundering, this regulation has often been criticized for stifling competition and innovation in the crypto exchange sector.
Spot Crypto ETFs Could Arrive in South Korea This Year
The PPP also aims to legalize the trading of spot crypto exchange-traded funds (ETFs) within 2025. Highlighting the growing global demand for such products, lawmaker Park Soo-min emphasized the need for South Korea to keep pace with the U.S. market, where spot Bitcoin ETFs have seen significant adoption.
“We can’t afford to fall behind in the digital asset race,” Park noted, reinforcing the urgency of ETF integration.
A Broader Vision: Stablecoins, STOs, and a Digital Asset Bill
In addition to ETF reform, the PPP has outlined plans to:
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Introduce a comprehensive legal framework for stablecoins aligned with international standards
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Legalize security token offerings (STOs) to expand investment opportunities
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Draft a “Digital Asset Promotion Basic Act”, which would form the backbone of South Korea’s emerging crypto legislation
These proposals are part of a seven-point initiative unveiled during a Monday meeting at the National Assembly, according to local reports from Edaily.
Special Task Force to Lead Crypto Strategy
To implement its crypto roadmap, the PPP plans to form a dedicated crypto committee under its presidential nominee. This task force will be responsible for supporting Web3 innovation, attracting blockchain investment, and rebuilding trust among investors shaken by past regulatory uncertainty.
Regulatory Winds Are Already Shifting
Even beyond campaign promises, South Korea’s financial regulators are easing crypto restrictions. In January, the Financial Services Commission (FSC) announced plans to lift a ban preventing institutional investors from entering the crypto space. The agency is also drafting additional rules to build upon the country’s first crypto regulatory framework — with a focus on token transparency, listing criteria, and stablecoin oversight.
