South Korea's Presidential Election Promises Crypto Industry Growth

According to BlockBeats, South Korean voters are heading to the polls for the presidential election, with both leading candidates promising benefits for the cryptocurrency industry. Lee Jae-myung and Kim Moon-soo, the frontrunners, have pledged to ease regulations and expand access to digital assets. Lee Jae-myung has proposed legalizing spot crypto ETFs and allowing South Korea's $884 billion pension fund to invest in crypto assets. He also advocates for the widespread issuance of stablecoins pegged to the Korean won, as part of a strategy to modernize the financial system and curb capital outflow. Currently, over one-third of South Korea's population, approximately 18 million people, are engaged in digital asset trading, making it one of the most active crypto markets globally. Some transactions on South Korean crypto platforms even surpass stock market volumes. Data from the Bank of Korea indicates that as of the end of last year, South Koreans held a total of $74.5 billion in crypto assets.