South Korea Elects Crypto-Friendly Lee Jae-myung as New President

Crypto-friendly Lee Jae-myung was elected as South Korea's new president on Wednesday, defeating the incumbent Conservative Party's leader Kim Moon-soo.During the election Lee made a number of promises to South Korea's crypto industry, appealing to the nation's 15 million crypto investors. These included legalizing spot cryptocurrency exchange-traded funds and allowing institutional investors like the National Pension Fund to make investments into certain cryptocurrencies and products, local media outlet The Korea Herald said in May.Lee also said the country should support a won-based stablecoin market "to prevent national wealth from leaking overseas," during a policy discussion with YouTube creators, The Korea Herald reported source: https://www.coindesk.com/policy/2025/06/04/south-korea-elects-crypto-friendly-lee-jae-myung-as-new-president