- PPP proposes deregulation of crypto exchanges to enhance competition.
- Policy aims to attract investment in digital assets.
- Immediate impact anticipated on BTC and ETH trading.
South Korea’s People Power Party announced plans to deregulate the nation’s crypto exchanges, aiming to foster a more competitive environment.
The plan signifies a major shift in South Korea’s approach to cryptocurrency, aiming to ease regulatory constraints and encourage market growth. The People Power Party, led by policy chief Kim Sang-hoon, aims to end the era of uncertainty and regulation in South Korea’s crypto industry. Lawmaker Park Soo-min highlights the necessity to abolish the “one exchange, one bank” rule to enhance competition.
Kim Sang-hoon, Policy Chief, People Power Party (PPP), emphasized the need to end the “era of uncertainty and regulation” and promote digital assets, considering them a crucial asset class for the new economy. source
The proposal’s potential impact includes increased liquidity in exchanges and could reshape how major cryptocurrencies like BTC and ETH are traded. Market dynamics may shift as institutional investors and smaller players enter the ecosystem.
The move is expected to impact the broader financial landscape, influencing investment flows and regulatory practices. Experts predict enhanced participation from both domestic and international stakeholders, catalyzing future growth in the crypto sector.
Potential outcomes include broadened access to digital assets for investors and revamped financial strategies for exchanges. Historical trends suggest these changes could lead to increased Total Value Locked (TVL) in DeFi protocols.
| Disclaimer: The content on The CCPress is provided for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks. Please consult a qualified financial advisor before making any investment decisions. |
