According to Bloomberg, South Korean voters will go to the polls on Tuesday to cast ballots in this presidential election. Regardless of the outcome of the presidential election, the crypto industry will benefit. Two popular candidates, Lee Jae-myung and Kim Moon-soo, have promised to ease regulations and expand access to digital assets. Candidate Lee Jae-myung has proposed legalizing spot crypto ETFs and even allowing South Korean pension funds with a size of 884 billion dollars to invest in crypto assets. He also advocates the widespread issuance of stablecoins pegged to the Korean won as part of a strategy to modernize the financial system and curb capital outflows.
More than a third of South Korea's population (about 18 million people) is currently involved in digital asset trading, making it one of the most active crypto markets in the world. The volume of crypto trading platforms in South Korea even exceeds the stock market on individual trading days. According to data released by the Bank of Korea, the total value of crypto assets held by South Koreans as of the end of last year was about 74.50 billion US dollars.
Bloomberg: No matter the outcome of the South Korean election, the crypto industry will benefit
2025-06-02 01:41:52
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