South Korean party bets on US Bitcoin ETF access for votes

South Korea's political parties are pledging crypto-related incentives to attract voters ahead of parliamentary elections.

Leading political parties in South Korea are promising crypto-related incentives to secure voters’ support ahead of the country’s upcoming parliamentary elections.

According to a Bloomberg report on April 5, the opposition Democratic Party has vowed to remove restrictions on domestic and international exchange-traded funds (ETFs) directly holding crypto tokens, including United States Bitcoin ETFs. Following the approval of Bitcoin ETFs in January, South Korea’s securities regulator warned that local distribution of these ETFs could violate domestic laws.

“We’re going to allow the ETFs, whether domestic or overseas,” Democratic Party’s Hwanseok Choi told Bloomberg, citing the group’s manifesto.

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