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South Korea’s presidential candidates are vying for the support of the country’s 15 million crypto investors by pledging to legalize spot crypto ETFs and introduce a Korean Won-backed stablecoin. The election, set for June 3rd, has become a battleground for pro-crypto policies as candidates seek to overhaul restrictive financial laws.
- All three major presidential candidates support legalizing Bitcoin ETFs and institutional crypto investments, currently banned in South Korea.
- Democratic Party’s Lee Myung proposes a Korean Won-backed stablecoin to reduce reliance on foreign digital currencies.
- South Korea’s crypto transaction value led Eastern Asia in 2023-2024, with one in three wealthy citizens investing in digital assets.
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