South Korean Election: Parties Compete by Promising Access to US Bitcoin ETFs

In the run-up to South Korea's parliamentary election, both major political parties are leveraging the nation's significant crypto market to court voters. President Yoon Suk Yeol's People Power Party vows to postpone a digital-asset tax, while the opposition Democratic Party promises to lift restrictions on exchange-traded funds (ETFs), including those based on US Bitcoin products. This move comes after the US approved ETFs directly investing in Bitcoin, amassing around $57 billion in assets. South Korea's securities regulator initially expressed concerns about brokering these products locally, citing potential legal violations. Despite the controversy, both parties are addressing crypto-related issues, reflecting the nation's active participation in the digital-asset market. Additionally, there's a growing expectation that spot-crypto ETFs will eventually be permitted, potentially establishing digital assets as mainstream investment assets in South Korea.