South Korea has elected pro-crypto candidate Lee Jae-myung as its new president. Lee, representing the Democratic Party, secured victory with 49.42% of the national vote, defeating conservative rival Kim Moon-soo in a high-turnout snap election held on June 3.

Lee’s win follows the dramatic impeachment of former President Yoon Suk Yeol, who was removed after declaring martial law late last year. Lee’s victory is widely viewed as a shift toward progressive and tech-forward governance, especially in the area of cryptocurrency regulation.

During his campaign, Lee proposed a bold crypto-first agenda that includes legalizing spot Bitcoin ETFs, allowing institutional investment in digital assets, and launching a won-pegged stablecoin. One of the most significant proposals is opening the door for South Korea’s $884 billion National Pension Fund to invest in crypto assets, aligning the nation’s strategy with top-tier global financial markets.

Lee also committed to building a regulatory framework to encourage innovation while protecting retail investors, aiming to make South Korea a leading crypto hub in Asia. His proposals have been welcomed by over 15 million crypto investors in the country, and market analysts predict a wave of renewed digital asset growth in the region.

Despite the optimism, Lee faces serious political and legal hurdles. He is currently battling corruption allegations, which he has denied. Furthermore, with global trade disruptions and rising U.S. tariffs, economic recovery and foreign policy will also test his administration.

In his inauguration address, Lee emphasized the need to restore democratic values, heal political divisions, and drive economic reform through innovation and inclusivity.

As Lee takes office, all eyes are on how swiftly and effectively his administration will act to implement these ambitious crypto policies and whether South Korea can truly position itself as a global leader in digital finance.

The post appeared first on CryptoShrypto.

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Filed under: Bitcoin - @ June 6, 2025 6:26 pm