Discussion Halted Amidst Political Crisis: The South Korean National Assembly has ceased all cryptocurrency regulation discussions following recent political turmoil. This indefinite suspension affects various proposed regulations, including a Bitcoin (BTC) spot ETF approval, underscoring the turmoil in governance.
Shifting Focus to Traditional Markets: As the impeachment crisis deepens, financial authorities are shifting their focus from virtual assets to traditional markets like stocks and bonds. This shift raises concerns regarding South Korea’s competitiveness in cryptocurrency regulations compared to jurisdictions like the U.S. And Hong Kong.