Lee Jae-myung, the candidate of South Korea's Left Party, was elected as the new president of South Korea with 49.42% of the vote, beating 41.15% of right-wing rival Kim Moon-so, according to Golden Finance. Lee Jae-myung pledged to vigorously develop South Korea's cryptocurrency industry, with key policies including allowing local adoption of spot crypto ETFs, establishing a stable coin market for Korean won, improving the regulatory framework for digital assets, and reducing blockchain regulation in specific regions to promote innovation. South Korea is one of the largest cryptocurrency markets in the world, with 9.7 million trading users, or about 20% of the total population. Unlike previous President Yoon Suk-yeol's failed promise of crypto-friendliness, Lee Jae-myung is expected to push his crypto policy in the context of the FSC's changing attitude.
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South Korea's new president Lee Jae-myung has been elected, promising to develop Crypto Assets and introduce Spot ETF.
Lee Jae-myung, the candidate of South Korea's Left Party, was elected as the new president of South Korea with 49.42% of the vote, beating 41.15% of right-wing rival Kim Moon-so, according to Golden Finance. Lee Jae-myung pledged to vigorously develop South Korea's cryptocurrency industry, with key policies including allowing local adoption of spot crypto ETFs, establishing a stable coin market for Korean won, improving the regulatory framework for digital assets, and reducing blockchain regulation in specific regions to promote innovation. South Korea is one of the largest cryptocurrency markets in the world, with 9.7 million trading users, or about 20% of the total population. Unlike previous President Yoon Suk-yeol's failed promise of crypto-friendliness, Lee Jae-myung is expected to push his crypto policy in the context of the FSC's changing attitude.