South Korea’s Presidential Candidates Woo Crypto Investors Ahead of Election
With around 16 million crypto investors, South Korea’s presidential candidates are targeting this influential group. These investors make up 36% of the country’s voting population. According to Point Daily, Bitcoin’s market value in Korea now tops 2,600 trillion won.this rivals the combined worth of KOSPI-listed companies.
Major political parties are using crypto-focused strategies to win these voters. The Democratic Party has added Professor Kim Yong-jin, a token securities expert, to their campaign. They’ve also introduced a draft Basic Digital Asset act. This act includes a stablecoin authorization system tied to legal tender.
The People Power Party has outlined seven crypto-related initiatives. These include ending the one-exchange-one-bank system and allowing spot ETF trading. Their candidate, Kim Moon-soo, highlighted the need for better protection for virtual asset investors. He noted that one-third of the population is in the crypto market but lacks basic protections.
The People Power Party has shared their crypto plans. They aim to abolish restrictive banking rules and establish South Korea as a global crypto hub. They want to institutionalize virtual asset trading for corporations and permit non-profit organizations and exchanges to sell virtual assets. This move requires internal review mechanisms and stronger anti-money laundering protocols.
Joseilbo reported that the Financial Services Commission will allow non-profit groups and exchanges to sell virtual assets from June. This move requires internal review mechanisms and anti-money laundering protocols.
These initiatives show the growing importance of crypto in South Korea’s political landscape. The party confirmed their candidate on June 3. They seek to make the country a global virtual asset hub. They also plan to abolish the one-exchange-one-bank system. They aim to boost the crypto market while ensuring safety measures.
These efforts reflect the crypto community’s growing political significance. The crypto market’s value now rivals the country’s listed companies.The party’s candidate, Kim Moon-soo, addressed investor frustrations. He emphasized the need for better protection for the 16 million crypto users. The party aims to make the country a leading player in the crypto world.
These moves highlight the crypto market’s impact on South Korea’s financial landscape. The crypto market’s growth has made it a key player in the election. The Financial Services commission supports these changes. They believe it will boost the market while maintaining financial safety.
These steps show how crypto is shaping South Korea’s financial future. The election on June 3 will likely see crypto playing a crucial role. The crypto market’s growth has made it a key factor in the election. The crypto market’s influence is clear. The election will test how well parties can balance innovation with regulation. The crypto market’s rise has forced parties to adapt.
