A digital asset
investment fund
Viska is an alternative investment fund based in Iceland that invests in digital assets.
Viska is an alternative investment fund based in Iceland that invests in digital assets.
South Korea is witnessing a significant shift in its approach to digital assets, with both major political parties actively engaging in cryptocurrency-related initiatives. This movement is characterized by the Democratic Party's establishment of a 'Digital Asset Committee' and presidential candidate Lee Jae-myung's commitment to approving spot crypto ETFs.
As per a recent survey of 3,010 individuals, 28.7% of young respondents with a large proportion of wealth currently hold digital assets. Read further here via Chosun)
Establishment of the Digital Asset Committee
On May 13, 2025, the Democratic Party of Korea inaugurated the Digital Asset Committee at the National Assembly Members’ Hall in Seoul. This committee aims to develop comprehensive cryptocurrency policies and promote industry growth. Key figures in this initiative include National Assembly Chairman Min Byeong-deok, who serves as the committee chairman, along with other prominent politicians and representatives from major local exchanges such as Upbit, Bithumb, Coinbit, and Gopax.
An article by a local news outlet (News1 KR) in South Korea, announcing the formation of the ‘Digital Asset Committee’ in order to modernize capital markets in the country.
During its first meeting, the committee addressed critical issues like the existing 'one-exchange-one-bank' rule, which restricts crypto exchanges to partnering with only one bank. Chairman Min highlighted the limitations of this policy and emphasized the need for regulatory reforms to foster a more competitive environment. Additionally, the committee discussed the regulation of stablecoins, debating whether oversight should fall under the Bank of Korea or the Financial Services Commission .
Presidential candidate Lee Jae-myung of the Democratic Party has pledged to legalize spot cryptocurrency exchange-traded funds (ETFs) if elected. This move is part of his broader initiative to create a safer investment environment, particularly for the youth, by providing more opportunities to build assets and plan for the future.
Lee Jae-myung, a Member of the National Assembly in South Korea has also proposed a ´´won-linked stablecoin´´. Saying on the 8th of May ´´'to prevent capital outflows, we must create a won-based stablecoin market.'´´. (Reported by Chosun Biz)
Lee's proposal includes the approval of spot crypto ETFs, reduction of transaction fees, and the establishment of an integrated monitoring system to enhance consumer protection. These measures aim to align South Korea's crypto regulations with global standards and encourage institutional investment in the sector.
According to a recent report by Maeil Business Newspaper (A South Korean business news outlet), USD-based stablecoins accounted for roughly half of all flows to recipients abroad in Q1 of this year.
The Democratic Party's proactive steps, including the formation of the Digital Asset Committee and Lee Jae-myung's commitment to legalizing spot crypto ETFs, signify a transformative period in South Korea's approach to digital assets. These initiatives reflect a concerted effort to modernize the country's financial landscape, promote innovation, and provide safer investment avenues for its citizens.
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