South Korea plans to introduce seven major encryption policies and open Spot ETF trading within the year.

According to Wu, as reported by Edaily, the ruling party of South Korea, the People Power Party, has announced seven new policies to cultivate the digital asset ecosystem. They plan to open Spot ETF trading for Bitcoin and other assets within the year and abolish the "1 exchange - 1 bank" restriction to promote institutional get on board. The policies also include introducing stablecoin regulation, advancing STO legislation, and formulating a basic law for digital assets. The party intends to establish a special committee for virtual assets directly under the presidential candidate to coordinate relevant reforms.