The cryptocurrency became a decisive problem in the presidential election in South Korea, and the candidates fought for support from the growing base of investors of digital assets from the whole generation.
All three leaders introduced cryptocurrency genial proposals. They include the legalization of Bitcoin Bitcoin (BTC) (ETFS) rotational funds and the relief of banking principles that currently limit FIAT-TO-Crypto trade to just five platforms.
Voting of June 3 is to take place about two years earlier, caused by the impeachment of former President Yoon Suk-Weeola after his controversial declaration of martial law at the end of 2024. Although quickly repealed by legislators, sudden power led to the political crisis, and its final removal from office.
The Yoon campaign in 2022 was strongly based on the promises of reforming cryptocurrency regulations – largely addressed to younger voters. This time the political focus on digital assets has just intensified, because older generations are starting to pour significant wealth into digital assets.
Presidential debate for the debate Stableleins injury
In these elections he has three leading candidates, and everyone promised to develop the local cryptocurrency economy.
Lee Jae-Myung from the opposite Democratic Party lost to Yoon in the last election and returns to the second campaign genial cryptocurrency.
Kim Moon-Soo operates under the current ruling party, People Power Party (PPP). The former president Yoon distanced himself from PPP before the election, leaving Kim to define a recent direction for a broken conservative base.
Lee Jun-Seok was once the youngest PPP leader in history. Now he runs his newly created reform party, a petite party, which he founded in January 2024 after parting with the ruling block.
“The political sphere actively embraced [cryptocurrencies] As a key campaign program, “said Cointelegraph, Sung-Jun Park, head of the blockchain Research Center at the University of Dongguk.
“Leaded through the transition to the digital economy, the pursuit of transparency of political financing, the spread of political technologies based on blockchain and the growing requirements for investors’ protection, [crypto] He became a significant economic, social and political problem in South Korea. “
Lee Jae-Myung and Kim have committed to facilitating strict banking principles, which require cryptocurrency exchanges to cooperate with licensed banks in order to offer FIAT-System services, which created almost a monopoly of only five approved platforms. The structure excludes participation in the corporation because it requires users to open accounts in partner banks using their legal identity.
Lee also suggested launching Stablecoin set up to reduce tokens released abroad.
Related: South Korea’s crypto emerges from the unsuccessful coup to the season of repression
Lee Jun-Seok pushedNoticing that South Korea once had an algorithmic win Stablecoin, Terrakrw (KRT), part of the Terra ecosystem that suffered a fall of many billion dollars.
“Lee Jae-Myung suggests launching another Stablecoin without presenting any security. What resources are it supported? How will the market risk be resolved? How will we avoid repeating previous failures? There is no answer,” said Lee Jun-Seok on Facebook postCriticizing his opponent for transforming Stablecoin into a “slogan”.
Two candidates fought again about Stablecouins during the live debate, in which Lee Jae-Myung argued for the safety of centralized and supported by Fiat Stablecouins.
Lee Jae-Weyung was the opponent of Yoon in the 2022 election, when he also supported Cryptocurrency genial policy. However, he was less aggressive than Yoon, who made several pro-Crypto obligations. Some of them, such as raising prohibitions in playback games (P2E) and the initial coins’ offer, have never been implemented.
Lee Jun-Seok apparently called the “second semiconductor industry of South Korea”, which consisting Over a fifth of total export in the country in 2024 committed to aiming 10% of the global gaming market by regulating support in taxation, export and development of talent. He added that the recipes that reject P2E games based on blockchain accelerate the exodus of innovative industry.
P2E games remain prohibited under local recipesBut interest has recently increased among investors after the launch of the recent Nexon title, one of the largest developers in South Korea, along with the recent cryptocurrency related to the economy in the game.
Crypto promises to test aged and recent voter bases
By the end of 2024, South Korea knew 9.7 million cryptographic investors, which is an enhance of 25% compared to the first half of the year, According to to the financial intelligence unit (fiu). Investors aged 30 recorded the largest enhance by 29%, and then at the age of 40 (27%), while investors over 50 years increased by 25%.
FIU discoveries show that older investors have more resources. Until the end of the year, 221,000 investors won at least 100 million wins (about USD 73,000) in Crypto. Of these, 172,500 – or 78% – there were over 40.
Related: XRP and Solana Race towards the next approval of cryptographic ETF
In February, the head of the financial industry Association called on regulatory authorities to approve Bitcoin and ETF ETF, citing the growing demand among older investors. He argued that ETFs offer a safer exhibition than direct investments.
Approval of Bitcoin ETFS was a key promise of the campaign for both Lee Jae-Myung and Kim. This movement occurs after the growing global shoot in the United States, the largest market in the world and a key trade partner in South Korea, gave the green airy to see ETF Bitcoin at the beginning of 2024.
“Cryptocurrencies play a role in our society, but they are ultimately one of the global trends. When the United States took the lead, we finished following his footsteps. It’s a bit disappointing – we could take over the lead ourselves,” said Coiwoo, a professor of social sciences at the University of Hansung.
However, the Act on the capital markets of the nation is a barrier that does not recognize cryptocurrencies as qualifying assets underlying ETF. The Financial Services Commission (FSC) also browsing legal paths to enable ETF Bitcoin as part of a dedicated cryptographic committee.
Lee at the front in the presidential election survey
The unsuccessful assassination of Yoon accelerated the presidential election and brought the need for unsolved problems in the local cryptocurrency industry.
“In the presidential election in 2022, cryptocurrency was seen as speculative and unbelievable. But in the 2025 election, she emerged as a key political issue, and the main candidates insisted on institutionalization and financial production in response to investment realities, before which young people stand”, a park from Blockchain Research Center.
South Korea is one of the world’s largest cryptocurrency markets. In the first quarter of 2024, the Koreans won the ranking as the most frequently rotary Fiat currency against Crypto, directed mainly by retail investors. Institutional players remain marginalized, waiting for their turn when FSC is preparing to start trading a pilot for professional investors.
Cryptocurrency policy was once perceived as campaign strategies to sway younger voters, but this year they are seen as an economic and social issue that affects many generations. In these elections, older generations enter the digital sphere, accelerating calls to regulated investment vehicles such as ETF.
“Things have changed a lot. There were even questions and answers about virtual assets during the presidential debates, and related discussions seem much more active. In the past, people looked at it with skepticism, but now it seems that society is approaching this more neutrally and makes its own judgments,” said Cho.
Lee Jae-Myung and who they are two leading candidates, in accordance with local media surveys, with Lee leads Kim at 44.9% to 35.9%, in accordance with the study conducted on May 23 to 25. Lee Jun-Seok is significantly for 9.6%, although it gained almost 3% compared to the initial test carried out a week earlier.
21. Presidential elections will take place on June 3.
Warehouse: Crypt Hub Expose Caske becomes viral, cocoa detects 70k fraud applications: Asia Express
