According to sources familiar with the matter, South Korea’s ruling party, the People Power Party, is Bitcoin It has indefinitely postponed plans to ease local crypto restrictions, including lifting the ban on ETFs.
Earlier this month, the party announced that it would withdraw taxation on crypto gains and allow local institutions to launch spot Bitcoin ETFs and direct to cryptocurrencies It was reported that he was preparing campaign promises aimed at allowing investors to invest. However, these plans have now been put on hold indefinitely.
The party’s change of position may have been due to difficulties coordinating with government and financial authorities on crypto policies, local news outlet Chosun Biz reported.
Meanwhile, the opposition Democratic Party, which has made similar promises regarding crypto ETFs, also officially announced its crypto campaign promises last week. The upcoming general elections in South Korea are expected to be held on April 10.
“It seems that quite some time has passed since the Democratic Party’s announcement, and the People Power Party leadership has decided that it is difficult to attract attention with similar promises,” the insider said, adding that cryptocurrency-related content may only be included in the manifesto to be published in the middle of next month after further review. he added.
*This is not investment advice.
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