The People Power Party (PPP), South Korea’s main right-wing political party, has announced plans to introduce a new bill that aims to advance the country’s cryptocurrency industry. Known as the ‘Digital Asset Promotion Basic Act,’ this legislation will be unveiled next Monday, with its details set to emerge then. 🎧 In parallel, South Korean financial regulators are actively pursuing measures to relax existing regulations surrounding cryptocurrencies. The Financial Services Commission (FSC) stated in January it would gradually lift the ban on institutional investors investing in cryptocurrencies. 📈 And, a representative from the FSC mentioned earlier this month that it’s possible to open the currently restricted local market to foreign investment.