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South Korea's National Power Party will abolish the virtual assets "one exchange is limited to one bank" system as a presidential election promise

According to online reports, the National Power Party of South Korea announced that it would abolish many policies such as the "one exchange, one bank" system for virtual assets as a core promise of the presidential election. The virtual asset policy proposals proposed by the party mainly include: abolishing the current restriction that "one exchange can only connect to one bank"; promoting the legalization of virtual asset transactions by enterprises and institutional investors; introducing virtual asset spot ETFs; promoting securities-based tokens (STO) legislation; establishing a regulatory framework for stablecoins; formulating the Basic Law on the Revitalization of Digital Assets; and building an innovative virtual asset tax system. These policies aim to comprehensively reform the regulatory framework of South Korea's virtual asset market and promote the healthy development of the digital asset industry.

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