South Korea’s ruling party delays spot Bitcoin ETF election promises

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South Korea’s ruling People Power Party has indefinitely delayed its proposal for an indefinite period to ease crypto restrictions and lift the spot Bitcoin ban. This back turn can be linked to the challenges in aligning with government policies regarding crypto. However, the opposition Democratic Party, which had also reportedly vowed similar pledges regarding crypto ETFs, officially announced its crypto campaign promises last week regarding ETFs. Earlier this month, there were reports that the governing party was planning election promises to delay taxing crypto profits and permit domestic institutions to introduce spot Bitcoin ETFs and directly invest in cryptocurrencies.