Matrixport: The new president actively promotes cryptocurrency reform in South Korea, but local market enthusiasm has not yet been fully boosted

ChainCatcher news, Matrixport released a daily analysis stating that "the new South Korean President Lee Jae-myung is actively promoting a series of cryptocurrency reform initiatives, clearly supporting the legalization of spot Bitcoin ETFs, issuing stablecoins pegged to the Korean won, and easing restrictions for institutional investors entering the crypto market.

In addition, Lee Jae-myung plans to revise the current regulatory framework for trading platforms and establish a 'Digital Asset Committee' to promote the formulation and implementation of relevant policies such as the 'Basic Law on Digital Assets.' These initiatives aim to align with global financial development trends, strengthen South Korea's financial sovereignty, and accelerate the integration of digital assets into South Korea's mainstream economy. Despite the increasingly friendly regulatory environment, local cryptocurrency trading activity in South Korea remains relatively sluggish, and the President's reform commitments have yet to fully boost market enthusiasm." According to Matrixport's report charts, South Korea's cryptocurrency trading volume is currently still close to historical lows, having significantly declined since the beginning of the year.