A local media recently reported that the People Power Party (PPP) that currently rules South Korea wants to secure the support of the youth by placing high emphasis on their crypto-friendly stance.
According to the report, the party is currently working on finding new ways to allow spot bitcoin exchange-traded funds (ETF) as part of its pledges for their long-awaited general elections to be held in April.
Besides, their discussions encompass letting institutional crypto investment, beginning with investment companies, though banks and insurance companies will follow. Also, once in power, the party will start removing this ban on IEOs in stages skyrocketing the cryptocurrency market.
These aggressive proposals are accompanied by the establishment of the “Digital Asset Promotion Committee”, which would be at the forefront of all laws and regulations regarding the notion of digital technology in South Korea.
In another report, the PPP also postponed the start of the crypto gains’ taxation from 2025 to 2027 which could be another ice cream topping for young investors.
With over 80% of South Korean crypto holders falling in the 20s and 30s age bracket, the PPP’s strategy is clear, that is, allowing this digital generation to be a part of the crypto community using crypto-friendly policy.
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