South Korea's National Power Party will abolish the virtual asset "one exchange can only connect with one bank" system as a presidential election promise

The National Power Party of South Korea announced that it will abolish the virtual asset "one exchange, one bank" system and other policies as the core commitments of the presidential election. The party's proposed virtual asset policy proposals mainly include: abolishing the current "one exchange can only connect with one bank" restrictions; promoting the legalization of virtual asset transactions by enterprises and institutional investors; introducing virtual asset spot ETFs; advancing security token (STO) legislation; establishing a stablecoin regulatory framework; formulating the Basic Law on Digital Asset Revitalization; and building an innovative virtual asset tax system. These policies aim to comprehensively reform the regulatory framework of the Korean virtual asset market and promote the healthy development of the digital asset industry.