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South Korea has elected Lee Jae-myung as its new president, triggering a wave of optimism in the country’s crypto industry. Lee, a center-left politician from the Democratic Party, secured 49.31% of the vote in Tuesday’s election, defeating his conservative rival Kim Moon-soo. Lee Jae-myung’s Election Ushers in New Era for Crypto Policy in South Korea Voter turnout hit 79.4%, the highest in 28 years, marking a powerful public rebuke of the previous administration. More importantly, however, it marks a pivotal moment for digital asset policy in one of Asia’s most active crypto markets. South Korea election results. Source: BBC Lee’s campaign promises have investors and builders on edge. He has publicly committed to allowing South Korea’s $884 billion national pension fund to invest in Bitcoin and other cryptocurrencies. He has also vowed to greenlight spot Bitcoin ETFs (exchange-traded funds) and develop a Korean won-pegged stablecoin to reduce capital flight and increase domestic adoption. “South Korea’s $884 billion national pension fund will be allowed to invest in Bitcoin. Extremely bullish for Bitcoin,” wrote Mister Crypto on X. President Lee Jae-myung promises. Source: Blockmedia on X South Korea’s crypto community has long advocated clearer regulations and greater access to institutional-grade investment vehicles. With over 18 million crypto users, the country has historically been a bellwether for retail enthusiasm and technological innovation. However, legal uncertainty and capital controls have kept much of its crypto economy limbo. Lee’s victory may change that. “To promote youth asset-building and advance crypto institutionalization, President Lee has pledged to introduce spot crypto ETFs, issue a won-based stablecoin, and establish an integrated market surveillance system,” Blockmedia, a local media outlet in South Korea, reported. These reforms are intended to enhance transparency, improve investor protection, and support youth asset-building amid economic stagnation. Still, significant legal hurdles remain. Under current law,…

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Filed under: News - @ June 4, 2025 8:27 am