South Korea May Contemplate Bitcoin Reserve, State Business Lobbyists, Democratic Party People

North Korean financial specialists and opposition lawmakers urged the state to incorporate Bitcoin into its national resources and build a won-backed bitcoin at a conference held last Wednesday.

The conference, hosted at the National Assembly by the major opposition Democratic Party, analyzed possible responses to U. S. moves for a national stockpile centered on Bitcoin, according to preliminary investigating from local media store The Korea Herald.

The debate came a moment before President Donald Trump signed an executive order to create a Bitcoin Reserve and crypto hoard later Thursday.

By Friday evening, the White House hosted its annual crypto mountain, discussing and outlining the Trump administration’s interests to” activate the blockchain Renaissance”, according to a real file seen by senior columnist Sander Lutz.

was granted a White House Press Pass to the mountain, where Trump delivered notes to an audience of bitcoin industry giants, including Strategy Chairman Michael Saylor and Coinbase CEO Brian Armstrong.

However, in South Korea, legislators and professionals proposed ways for the state to listen to results of the White House crypto summit.

” South Korea will need to respond with a distinct policy”, Kim Jong-seung, CEO of cryptocurrency firm xCrypton, said at the celebration on Wednesday away of Trump’s purchase.

The conversations coincide with growing calling to adopt digital resource stockpiles and reserves.

In Asia, Hong Kong has vowed to drive the country’s burgeoning electronic goods business more. &nbsp,

Japan, moreover, has an ongoing plan for a National Bitcoin Reserve, coinciding with work by some politicians to reduce crypto tax in the country.

” Asia in specific is also trying to evaluate the effect that broad-ranging tariffs and trade war will have on interest charges and international liquidity”, Michael Terpin, CEO of venture capital firm Transform Ventures, told .

But in South Korea, current regulations prevent non-residents from trading on South Korean crypto exchanges, pushing domestic traders to offshore platforms.

” I think Korea, in general, is slower than most, as we’ve just approved corporate accounts for crypto, and BTC and ETH ETFs are still not allowed to be traded”, Min Jung, an analyst at Singapore-based Presto Research, told . ” It seems like Korea is simply trying to catch up”.

Beyond bitcoin reserves, other experts in the forum emphasized the importance of creating a won-backed stablecoin.

Kim warned that without a domestic stablecoin alternative, South Korea risks losing “monetary sovereignty” if USD-pegged stablecoins dominate the digital economy.

” We need to develop a model linking dollar stablecoins and won stablecoins for trade transactions”, Kim told attendees.

Rep. Kim Min-seok, who leads the Democratic Party’s policy preparation committee, indicated his party would reshape South Korea’s crypto regulations if it returns to power.

The country could hold an election in May if President Yoon Suk Yeol’s impeachment is confirmed.