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Announcing that it will wait for the USA, South Korea is approaching Bitcoin step by step! There is a new development!
***The historical approach of US President Donald Trump to Bitcoin (BTC) and cryptocurrencies, while energizing other countries, the South Korean main opposition party, the Korea Democratic Party (DPK), announced that they will discuss adding Bitcoin to their foreign exchange reserves.
According to a (MK) report from local news agency Maeil Business Newspaper, the Democratic Party's Management Plan Center will hold a seminar titled 'Trump 2.0 Crypto Finance Era, South Korea's Response Strategy' to discuss Korea's crypto policy in response to the Donald Trump administration.
It was stated that the potential inclusion of Bitcoin in the foreign exchange reserves managed by the Bank of Korea and the Ministry of Economy and Finance will be discussed at the seminar.
The seminar will also discuss ways for financial institutions to use Bitcoin as ETFs, bond collateral assets, and foreign exchange trading instruments.
It will also discuss the development of Korean stablecoins and methods of raising institutional capital using Real World Asset tokens.
South Korea's Financial Services Commission (FSC)*** has previously denied creating a national Bitcoin reserve. FSC Chairman Kim Byung-hwan announced that South Korea is not keen on the issue of Bitcoin reserves.
The FSC chairman also said that South Korea would wait to see how other countries and the market would react to Trump's BTC reserve plan before taking action on Bitcoin.