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Gate Square New & Returning Creator Rewards are ongoing!
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Confusing Bitcoin Spot ETF and Cryptocurrency Decision Comes from South Korea
South Korea's ruling People's Power Party has indefinitely postponed plans to ease local crypto restrictions, including lifting the ban on local spot Bitcoin ETFs.
Earlier this month, the party reportedly drafted campaign promises aimed at withdrawing taxation on crypto gains and allowing local institutions to launch spot Bitcoin ETFs and invest directly in cryptocurrencies. However, these plans have now been suspended indefinitely.
As reported by local news outlet Chosun Biz, the party's change of position may have been due to difficulties in coordinating with the government and financial authorities on crypto policies.
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