News list for "Democratic Party of Korea"
According to Chosun Ilbo, An Dujie, a member of the Democratic Party of South Korea, will officially submit the draft "Law on the Issuance and Circulation of Value Stable Digital Assets" today. This is the first systematic legislative proposal in South Korea for the issuance, circulation and supervision of Korean won-denominated stablecoins. It is more special project than the stablecoin provisions involved in the Basic Law of Digital Assets of Member Min Byung-deok last month. It is worth notin...
Min Byung-duk, a lawmaker from the Democratic Party of Korea, today launched an amendment to the Capital Markets and Financial Investment Industry Law, aiming to include digital assets (virtual assets) in the scope of underlying assets and trust properties of financial investment products. The amendment will allow digital assets such as bitcoin to be used as the underlying assets of financial products such as exchange-traded funds (ETFs), while providing a legal basis for trust operators to cust...
The Democratic Party of Korea (DPK) said it is currently working on a cryptocurrency policy agenda and will announce details later. The DPK revealed the news during a press conference to introduce 10 policy initiatives for the upcoming presidential election. Democratic presidential candidate Lee Jae-myung has previously promised to promote the listing of spot crypto ETFs and reduce digital asset trading fees.
On December 25th, according to Yonhap News Agency, according to data submitted by Lim Kwong-hyun, a member of the Democratic Party of Korea and a member of the National Assembly Planning and Finance Committee, as of the end of November, the number of digital asset investors in South Korea was 15.59 million, an increase of 610,000 from the end of October, more than 30% of the Korean population. The total amount of digital assets held is 102.60 trillion won (about 70 billion US dollars), and the d...
On November 12, according to News1, Noh Jong-myun, a spokesperson for the Democratic Party of Korea, expressed his opposition to the proposal by the government and the ruling party to delay the implementation of the capital gains tax on virtual assets for two years. This stance stands in sharp contrast to recent reports that suggest that it is increasingly possible to delay the implementation of the crypto tax until 2027.
Park Sang-hyuk, a lawmaker from the Democratic Party of South Korea, has introduced a proposal to amend the Virtual Asset User Protection Act. The amendment aims to protect cryptocurrencies held by investors in the event of an exchange's bankruptcy. It would prevent virtual assets from being used to settle debts or be confiscated, ensuring that they can be returned to users first. The current law has been criticized for potentially preventing users from recovering cryptocurrencies in the event o...
South Korea's left-wing Democratic Party plans to require financial regulators to review currently banned spot bitcoin exchange-traded funds, according to a South Korean coverage. This marks the party's next move to make spot bitcoin funds available locally. The opposition Democratic Party won a major victory in April's general election, winning 175 of the 300 seats in the local legislature, while the ruling...
