South Korean President Promotes Encryption Reform: Supports Bitcoin ETF, Stablecoins, and New Regulatory Policies

According to the analysis, "the new South Korean President Lee Jae-myung is actively promoting a series of cryptocurrency reform measures, explicitly supporting the legalization of spot bitcoin ETFs, the issuance of stablecoins pegged to the Korean won, and the relaxation of restrictions on institutional investors' access to the crypto market." In addition, Lee also plans to revise the current regulatory regulations on trading platforms and set up a "Digital Asset Committee" to promote the formulation and implementation of relevant policies such as the Basic Law on Digital Assets. These initiatives aim to align with global financial trends, strengthen South Korea's financial sovereignty, and accelerate the integration of digital assets into South Korea's mainstream economy. Despite an increasingly friendly regulatory environment, local crypto trading activity in South Korea remains relatively sluggish, and the president's promise of reform has not yet sufficiently boosted market enthusiasm. "South Korean cryptocurrency trading volumes are still near record lows and have declined significantly since the beginning of the year, according to a chart reported by the data platform.