South Korea's President Advocates for Cryptocurrency Reforms

According to BlockBeats, South Korea's President Lee Jae-myung is actively promoting a series of cryptocurrency reforms. These initiatives include supporting the legalization of spot Bitcoin ETFs, issuing stablecoins pegged to the Korean won, and easing restrictions for institutional investors entering the crypto market. Additionally, President Lee plans to revise current regulations on trading platforms and establish a 'Digital Asset Committee' to facilitate the development and implementation of policies like the 'Basic Law on Digital Assets.' These measures aim to align with global financial trends, strengthen South Korea's financial sovereignty, and accelerate the integration of digital assets into the country's mainstream economy. Despite the increasingly favorable regulatory environment, local cryptocurrency trading activity in South Korea remains relatively subdued, and the president's reform commitments have yet to significantly boost market enthusiasm. Matrixport's report indicates that daily cryptocurrency trading volumes in South Korea are still near historic lows, having declined significantly since the beginning of the year.