The Democratic Party of Korea won a majority of seats in the national parliament, ahead of the ruling People Power Party. In June 2024, the winners are ready to make changes to the regulatory framework relating to the financial system and the crypto market in order to make units of spot Bitcoin ETFs available to citizens of the country.
During the election debates, both parties exploited the theme of spot Bitcoin ETFs to attract voters, promising to pass laws that would promote the development of the crypto industry.
The Democratic Party promises that every user will have the opportunity to work with exchange products for Bitcoin, and emphasize: South Korea can become a leading participant in the crypto industry in this region of the planet.
Earlier, analysts from the Kaiko service reported that in the first quarter of 2024, high trading activity was observed on cryptocurrency exchanges in the Republic of Korea, which led to the achievement of a two-year maximum in trading volumes.
