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16 million Korean cryptocurrency voters are ready to influence the elections.
Report on the Political Situation and Cryptocurrency in South Korea
According to sources from South Korean media, the presidential election in this country will take place on June 3rd. Both the ruling party and the opposition party have reached an agreement on laws related to traditional investment. Gaining support from cryptocurrency investors will play an important role in this election.
South Korea is estimated to have around 16 million cryptocurrency investors, accounting for about 36% of the voters ( out of approximately 44.25 million people ) in the 22nd general election held on April 10 last year. Candidates from various parties have proposed cryptocurrency-related policies to attract votes.
Electronic Currency Policy of the Parties
The Democratic Party of Korea is committed to promoting the Basic Law on Digital Assets, while the People Power Party has proposed seven major policies, including easing restrictions on institutional investment and allowing ETF trading.
Impact and Future Expectations
Industry experts believe that due to strong demand from investors for policy easing, the voting direction of cryptocurrency investors will have a significant impact on the election results. New policies could open up many development opportunities for the cryptocurrency market in South Korea.
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