TechFlow news, according to local reports citing informed sources, South Korea's ruling party, the People Power Party, has "indefinitely postponed" its pledged plans to ease cryptocurrency regulations, including lifting the ban on local spot Bitcoin exchange-traded funds (ETFs).
According to local news outlet Chosun Biz on Wednesday, the party's reversal and withdrawal of its commitment may be due to difficulties in coordinating with the government and financial authorities on cryptocurrency policy.
Previous report, local media reported on Monday that South Korea’s ruling People Power Party was exploring ways to allow spot Bitcoin ETFs as part of its campaign promises for the upcoming April general election.
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