TechFlow news, April 25 — According to South Korean media outlet Newsis, the main conservative party in South Korea, the People Power Party (PPP), officially announced on April 25 its plan to push forward a new legislation titled "Digital Asset Promotion Basic Act," aiming to promote the development of the local crypto asset industry. The party's policy chief, Kim Sang-hoon, stated that South Korea needs to end the "era of uncertainty and regulation" and usher in a new era of digital asset promotion. He pointed out that excessive regulation has prevented foreign capital from entering South Korea's virtual asset market, while domestic capital is also flowing out. Meanwhile, South Korea's Financial Services Commission (FSC) is relaxing strict rules on cryptocurrencies, including gradually lifting the ban on institutional investors investing in crypto assets and considering allowing foreign investors to enter the local market. Details of the bill will be released next Monday.
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