South Korea’s crypto market is poised for a win, no matter who becomes president on June 3.
In a rare show of bipartisan consensus, both leading presidential candidates have pledged pro-crypto policies, including the legalization of spot crypto ETFs, lighter regulations, and the launch of a won-backed stablecoin.
The election follows the impeachment of former President Yoon Suk-yeol, ousted after attempting to impose martial law in December. With crypto regulation becoming a top campaign issue, both contenders are aggressively courting the country’s tech-savvy electorate.
🔵 Lee Jae-myung: Democrat with a Bold Crypto Vision
Lee Jae-myung, of the Democratic Party, currently leads in the polls with 49% support, according to Gallup Korea. His crypto platform includes:
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Legalizing spot Bitcoin ETFs
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Allowing South Korea’s $884B national pension fund to invest in crypto
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Issuing a won-backed stablecoin to modernize financial systems and reduce capital flight
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Easing fiat-to-crypto banking restrictions to help exchanges operate more freely
Lee emphasized the need for a “safe investment environment” to help young people build wealth. His stablecoin plan aims to keep national wealth from leaking overseas.
🔴 Kim Moon-soo: Conservative, But Equally Pro-Crypto
Kim Moon-soo, the conservative People Power Party candidate, supports spot ETF legalization and has openly backed many of Lee’s proposals. This rare bipartisan alignment signals strong political momentum for crypto adoption in South Korea, regardless of the election’s outcome.
📈 A Crypto-Heavy Nation Demands Clearer Rules
South Korea is one of the world’s most active crypto markets, with:
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Over 18 million crypto users
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Daily trading volumes that sometimes exceed stock market activity
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Over 16 million registered exchange accounts
The country has already tightened oversight:
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In July 2024, new laws introduced severe penalties for crypto fraud, including life sentences
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On May 20, regulators rolled out rules on nonprofit token sales and stricter exchange listing standards
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The Democratic Party also launched a Digital Asset Committee to build out a full crypto policy framework
With such a large portion of the population involved in digital assets, there’s strong demand for regulatory clarity and innovation-friendly laws.
✅ Crypto Community Cheers Either Way
Simon Seojoon Kim, CEO of Hashed Ventures, told Bloomberg:
“The country’s crypto investors face a clear win regardless of the election outcome.”
Whether led by Lee or Kim, South Korea’s next government appears set to legitimize and expand the role of crypto in its economy.
👉 For more updates on global crypto policy, visit https://cryptodicenews.blog
