The Democratic Party of Korea won the majority of seats in the national parliament, ahead of the ruling People's Power Party. In June 2024, the winners are ready to make changes to the regulatory framework regarding the financial system and the crypto market in order to make shares of spot bitcoin ETFs available to citizens of the country.
During the election debates, both parties exploited the topic of spot bitcoin ETFs in order to attract voters, promising to pass laws that promote the development of the crypto industry.
The Democratic Party promises that every user will have the opportunity to work with exchange products for bitcoin, and emphasize that South Korea can become a leading participant in the crypto industry of this region of the planet.
Earlier, analysts of the Kaiko service reported that in the first quarter of 2024, there was high activity of traders on the cryptocurrency platforms of the Republic of Korea, which led to the achievement of a two-year maximum trading volume.