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South Korean Political Parties Woo Voters with Crypto-Friendly Policies

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South Korea’s major political parties unveil crypto incentives, with the Democratic Party eyeing ETF liberalization and the People’s Power Party proposing a tax delay on digital assets.

In a move to garner support ahead of the upcoming parliamentary elections, South Korea’s leading political parties have turned to the burgeoning cryptocurrency market, introducing policies aimed at attracting the younger, tech-savvy electorate. This development underscores the growing influence of digital assets in the political arena and how they can sway voter sentiment.

The Democratic Party, currently in opposition, has announced a policy proposal that seeks to lift existing restrictions on both domestic and international exchange-traded funds (ETFs) that include cryptocurrency tokens, such as Bitcoin ETFs. This move is aimed at stimulating the country’s financial technology sector and providing investors with more diversified and regulated investment options. If implemented, the proposal could significantly boost the crypto market in South Korea by allowing traditional investors to engage with cryptocurrencies within a familiar and regulated framework.

On the other hand, President Yoon Suk Yeol’s ruling People Power Party is taking a different approach by promising to delay the imposition of taxes on profits generated from digital assets. This tax policy adjustment, which would push back the planned tax start date, is designed to ease the financial burden on crypto investors and traders. The People Power Party believes that the delay will not only benefit individual investors but also encourage the growth of the domestic crypto industry.

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The proposed policies by both political factions reflect an acknowledgment of cryptocurrency’s role in South Korea’s economy and its potential to influence the outcome of elections. South Korea has one of the world’s most active cryptocurrency trading environments, and decisions made in this sphere resonate with a significant portion of the population, especially among younger voters who are more likely to engage in digital asset trading.

It is also worth noting the global context in which these proposals are made. South Korea is part of a larger trend where governments and financial regulators are grappling with the best approach to integrate cryptocurrencies into their economies. The United States, for example, has seen multiple Bitcoin ETFs launched, while regulatory bodies like the Securities and Exchange Commission (SEC) continue to evaluate the crypto space. South Korea’s stance on crypto ETFs and taxation will undoubtedly be observed by international markets and regulators.

However, the journey towards implementing these crypto-friendly policies is not without challenges. Regulatory concerns, including investor protection and market stability, remain at the forefront of discussions. Moreover, the volatility of the cryptocurrency market poses a risk that policymakers must carefully navigate to avoid backlash from potential financial upheavals.

In conclusion, as South Korea’s political parties deploy strategies to secure electoral support, their focus on crypto-related incentives highlights the importance of digital assets in the country’s future economic landscape. The Democratic Party’s push for ETF liberalization and the People Power Party’s proposed tax delay on digital assets profits are clear signals that cryptocurrency has become a significant player in South Korean politics, with the power to sway voters and shape policy.

Source: blockchain.news

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The post South Korean Political Parties Woo Voters with Crypto-Friendly Policies appeared first on HIPTHER Alerts.

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Bybit Expands bbSOL Yield Opportunities Through Strategic DeFi Partnerships

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This Week in Finance News: 11 Stories You Need to See

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With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

  1. Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
    By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few.
  2. Cardinal Health announces two strategic additions to its portfolio
    Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash.
  3. BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
    This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems.
  4. Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
    “I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands.
  5. Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
    The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately.
  6. PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
  7. Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
  8. Finaya Unveils Nationwide Homeownership Platform
    From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient.
  9. GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
    Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too.
  10. GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
    This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics.
  11. Most US shoppers are encountering generative AI while shopping without realizing it
    A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.

For more news like this, check out all of the latest finance-related releases from PR Newswire.

Do you have a finance press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most.

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Helping Journalists Stay Up to Date on Industry News

These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.

Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:

  • Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.
  • Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.
  • Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.
  • Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.

The post This Week in Finance News: 11 Stories You Need to See appeared first on .

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Fintech as a Service Market: A Comprehensive Trends Analysis Predicts a USD 1,329.12 Billion by 2032 CAGR: 17.4% | PMR

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