South Korea's PPP to Introduce Digital Asset Promotion Bill

According to BlockBeats, South Korea's main right-wing political party, the People Power Party (PPP), has announced plans to introduce a new bill aimed at fostering the development of the country's cryptocurrency industry. The proposed legislation, titled the 'Digital Asset Promotion Basic Act,' is set to have its details revealed next Monday. In addition, South Korea's financial regulatory bodies are working towards easing the stringent regulations on cryptocurrencies. The Financial Services Commission declared in January that it would gradually lift the ban on institutional investors investing in cryptocurrencies. A representative from the Financial Services Commission mentioned earlier this month that there is a possibility of opening the currently restricted local market to foreign investors.