South Korea's ruling party promises to promote spot cryptocurrency ETF trading and expand bank access permissions

According to The Block, South Korea's ruling party, the National Power Party (PPP), announced that it will allow spot cryptocurrency ETF trading within the year and expand bank access to cryptocurrency exchanges to gain support from the cryptocurrency industry before the June 3 presidential election. PPP also plans to abolish the regulation of "one exchange corresponds to one bank" and propose a draft of the "Basic Law for the Revitalization of Digital Assets", covering the regulation of stablecoins and the legalization of securities tokens.