South Korea's National Power Party announced that it would abolish the "one exchange, one bank" system for virtual assets as a core promise in the presidential election

According to the Korea Economic Herald, the People Power Party of South Korea announced that it will abolish the "one exchange, one bank" system for virtual assets and other policies as key campaign promises for the presidential election. The party's virtual asset policy proposal mainly includes: canceling the current restriction of "one exchange limited to connecting with one bank"; promoting the legalization of virtual asset trading for enterprises and institutional investors; introducing virtual asset spot ETFs; advancing legislation for security tokens (STO); establishing a stablecoin regulatory framework; formulating the "Basic Law for Digital Asset Revitalization"; and creating an innovative virtual asset tax system, among seven major measures. These policies aim to comprehensively reform South Korea's virtual asset market regulatory framework and promote the healthy development of the digital asset industry.