Bill to scrap one exchange-one bank rule set for debate today

A bill to scrap the rule requiring each digital asset exchange to partner with only one bank for services will be discussed today, Edaily reported. South Korea’s National Policy Committee is set to hold a full meeting at the National Assembly today to place 136 bills on the agenda, including the 2025 fiscal year settlement, approval of reserve fund spending for fiscal 2025, and an amendment to the Act on Reporting and Use of Certain Financial Transaction Information containing the measure, according to the report. The amendment related to a one exchange-multiple banks system includes a clause stating virtual asset service providers may receive real-name verified deposit and withdrawal accounts from one or more financial institutions, while the standards, conditions, and procedures for opening such accounts would be set by presidential decree.