South Korea’s opposition party pushes for legislation to support crypto industry development

Odaily News South Korea's right-wing opposition National Power Party is pushing for new legislation to promote the development of the cryptocurrency and blockchain industries. According to The Block, the bill includes relaxing regulatory restrictions on digital assets, encouraging blockchain technology innovation, and incorporating crypto assets into the scope of financial system regulation. This move marks that South Korea's policy environment is shifting towards supporting the crypto industry, which may have a profound impact on the local Web3 ecosystem. (The Block)