South Korea’s Ruling Party Pushes to Speed Up Bitcoin Laws After U.S. Genius Act

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South Korea is taking big steps to catch up with the changing crypto world. After the United States passed the new GENIUS Act, the law aims to make clearer and safer rules for digital currencies. South Korea’s ruling party doesn’t want to be left behind. 

They have just announced plans to fast-track fresh laws covering Bitcoin and other cryptocurrencies.

In a recent tweet post, Bitcoin Archive noted that South Korea’s ruling party plans to speed up crypto laws after the GENIUS Act in the U.S. The ruling Democratic Party believes faster legislation can protect users better while encouraging new business opportunities. 

A senior lawmaker said delays aren’t an option. They want clear rules on how exchanges handle money and stablecoins, and how to stop fraud.

Officials say the GENIUS Act proves big economies now take crypto seriously, and South Korea wants to lead, not fall behind.

JUST IN: South Korea’s ruling party reveals plan to accelerate Bitcoin and crypto legislation following the Genius Act