Presidential candidates, Virtual asset ETF introduction·Fee reduction pledge intensification

Major Presidential Candidates Who Are Proposing The Same Virtual Asset Pledges (Source: Dong-a Ilbo)

Lee Jae-myung Of The Democratic Party Of Korea And Kim Moon-soo Of The People Power Party Have Pledged To Introduce A Spot ETF (Exchange Traded Fund) And Reduce Transaction Fees In The Virtual Asset Market As Part Of Their Campaign Promises.

The Two Candidates Plan To List ETFs Based On Major Virtual Assets Such As Bitcoin On The Domestic Stock Market. This Will Significantly Improve Convenience For Investors As They Will Be Able To Access Virtual Assets With Just A Securities Account. This Measure Aims To Enhance Accessibility To Virtual Assets And Promote Investment Activation.

The Government Also Announced Last March That It Would Consider Introducing A Spot ETF To Revitalize The Virtual Asset Market. Kyu Byung-hwan, Chairman Of The Financial Services Commission, Recently Stated At A Press Conference That "The Candidates' Pledges Align With The FSC's Existing Direction." However, Some Worry About The Potential For The Volatility Of Virtual Assets To Transfer To The Financial System.

The Arrangement Of Regulations For The Promotion Of The Virtual Asset Industry Is Also Being Pursued. The Democratic Party Has Established A Digital Asset Committee Under Its Campaign Committee To Discuss Comprehensive System Reform Covering Stablecoin, NFT, And Token Securities.

The People Power Party Announced Specific Pledges Such As ▷Institutionalizing Corporate And Institutional Virtual Asset Transactions ▷Legislating STO (Securities Token Offering) ▷Establishing A Regulatory Framework For Stablecoins ▷Enacting A Basic Law On Digital Asset Development ▷Innovating The Taxation System ▷Strengthening Investor Protection And Plan To Solidify The Institutional Foundation.

A Financial Sector Official Predicted, "As Pledges Targeting Virtual Asset Investors Are Being Made By Both Ruling And Opposition Presidential Candidates, Competition To Preempt The Digital Asset Market In The Banking Sector Will Intensify Further."

If The Institutionalization And Deregulation Of The Virtual Asset Market Become A Reality, Significant Changes Are Expected In The Domestic Financial Sector, And Investor Access Is Also Expected To Greatly Improve.