Crypto Takes the Spotlight in South Korea’s heated presidential race

As South Korea prepares for its presidential election on June 3, candidates are vying for the vital support of 15 million crypto investors, who represent a significant voting bloc in the nation. Lee Jae-myung and Kim Moon-soo, the leading candidates, are proposing various policies to capture this demographic.

Both candidates support the introduction of Bitcoin ETFs and the development of a won-backed stablecoin market, aiming to reduce dependency on foreign stablecoins. The proposed Digital Asset Basic Act seeks to regulate these new financial products as skepticism remains amongst voters.