South Korea Embraces Crypto: New Bill Aims for Integration with Traditional Finance

South Korea is taking significant steps towards integrating cryptocurrency into its financial system. The nation’s new legislation aims to allow banks to explore digital asset markets, opening the door to a wider range of crypto-related services. President Lee Jae-myung has been vocal about his pro-crypto stance and has previously advocated for local stablecoins and Bitcoin exchange-traded funds (ETFs), laying the foundation for this shift. The bill’s focus is on integrating stablecoins and digital currencies within the country, a move designed to boost market confidence and accelerate national crypto adoption.