{"id":13812,"date":"2024-02-29T12:45:06","date_gmt":"2024-02-29T12:45:06","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=13812"},"modified":"2024-03-27T12:47:17","modified_gmt":"2024-03-27T12:47:17","slug":"south-korea-ruling-party-retracts-spot-bitcoin-etf-election-promise","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/south-korea-ruling-party-retracts-spot-bitcoin-etf-election-promise\/","title":{"rendered":"South Korea’s Ruling Party Retracts Spot Bitcoin ETF Election Promise!"},"content":{"rendered":"

The political landscape concerning South Korea\u2019s cryptocurrency has entered a new phase as the ruling Power of the People Party has stepped back from its plan to argue for relaxed regulations, including legalizing spot Bitcoin exchange-traded funds (ETFs).<\/strong><\/p>\n

This news followed the initial reports suggesting that the party was preparing campaign promises in February that would delay crypto tax regulations, allow local institutions to launch spot Bitcoin<\/a> ETFs, and even enable direct cryptocurrency investment.<\/p>\n

Sources on the matter tied the party’s change of stance to the possible difficulties in coordinating crypto policies with the government and financial authorities.<\/strong><\/p>\n

While the ruling party steps back, the opposition Democratic Party continues to stick with its campaign promises for crypto announcements recently made, including support for spot Bitcoin ETFs.<\/strong> This is potentially setting the stage for contrasting policies concerning cryptocurrency regulation if the Democratic Party emerges victorious in the general elections scheduled for April 10.<\/p>\n

This development leaves the future of spot Bitcoin<\/a> ETFs in South Korea uncertain.<\/strong> With one side withdrawing its support, it is not yet known whether the stance of the opposite side, if elected, will prevail or whether a different approach to cryptocurrency regulation will eventually be adopted.<\/p>\n

\n

You can freely share your thoughts and comments about the topic in the comment section. Additionally, please don\u2019t forget to follow us on our\u00a0Telegram<\/strong>\u00a0 ,<\/a>YouTube<\/strong><\/a>\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest news and updates instantly.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The political landscape concerning South Korea\u2019s cryptocurrency has entered a new phase as the ruling Power of the People Party has stepped back from its plan to argue for relaxed regulations, including legalizing spot Bitcoin exchange-traded funds (ETFs). This news followed the initial reports suggesting that the party was preparing campaign promises in February that<\/p>\n","protected":false},"author":6,"featured_media":13811,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[61,534,60,1999],"class_list":["post-13812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-bitcoin","tag-bitcoin-etf","tag-btc","tag-south-korea"],"yoast_head":"\nSouth Korea's Ruling Party Retracts Spot Bitcoin ETF Election Promise! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"South Korea's ruling party reracts spot Bitcoin ETF as election promise. 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