South Korean Election Poses Crypto Growth Opportunity

The upcoming presidential election follows Yoon Suk-yeol’s impeachment. Candidates Lee Jae-myung and Kim Moon-soo differ slightly but both aim to boost the crypto sector. This aligns with public demands for modernized regulations.

Lee Jae-myung seeks to legalize spot Bitcoin ETFs and allow pension investments in crypto. Kim Moon-soo focuses on deregulation including eliminating the one-exchange-one-bank rule to increase competition.

Lee Jae-myung, Presidential Candidate, – “I propose legalizing spot crypto ETFs and allowing South Korea’s National Pension Service to invest in cryptocurrencies.” Source

The election promises have resonated with voters, indicating strong public support for progressive crypto policies. Market reactions could be influenced by potential capital inflow and enhanced access to trading platforms.

A shift in regulatory policies could see increased institutional investment as seen with Lee’s pension proposal. Deregulation may attract more exchanges, fostering competition and innovation within the sector.

Crypto was a central issue in South Korea’s 2022 elections. Former candidate Yoon Suk-yeol’s crypto promises primarily targeted young voters. The upcoming election suggests broader appeal as even older generations show interest in digital assets.

Kanalcoin experts indicate that the current trends highlight a shift in policy focus across generations. This could establish South Korea as a global leader in crypto adoption, given its significant trading volume historically.