Park Soo-min Advocates for Abolishing the 'One Exchange, One Bank' System

On the 10th, Park Soo-min, a member of the People Power Party, argued at Deacon 2026 that the 'One Exchange, One Bank' system should be abolished to enhance the competitiveness of South Korea's virtual asset industry. The 'One Exchange, One Bank' system refers to a framework where domestic digital asset exchanges can only partner with a specific bank for their services. Park expressed the urgency of abolishing this system, stating the intention to open an era centered on digital assets and reach G2 status. The People Power Party announced seven key initiatives aimed at achieving G2 status in digital assets by April 2025, highlighting the abolition of the 'One Exchange, One Bank' system as the most important. He cited former U.S. President Donald Trump's digital asset policies as an example, emphasizing that South Korea must establish clear policy directions and institutional measures. Park pointed out that the regulations governing the use of banks by digital asset exchanges differ from those for traditional financial services, adding that a system should be created to allow exchanges to utilize all banks to enhance market trust.