韩国加密货币

Korean Won Stablecoin?? Looking at it this way, we might soon be able to play with foreign exchange on the chain, hahaha

The South Korean presidential candidates are engaged in a fierce debate over stablecoin policy.

The candidate from the largest opposition party, the Democratic Party, Lee Jae-myung, argued on May 8 that "a Korean won stablecoin market should be established as soon as possible," warning that otherwise the country would face "national wealth outflow."

This proposal was strongly opposed by reform party candidate Lee Jun-seok, who cited the 2022 Terra collapse case, pointing out that the algorithmic stablecoin KRT resulted in disastrous consequences due to a lack of actual asset backing.
Lee Jae-myung's supporter, former lawmaker Kim Byeong-wook, rebutted that global regulators have clearly distinguished between algorithmic stablecoins and compliant stablecoins backed 1:1 by cash/government bonds, stating that a Korean won stablecoin could reduce cross-border remittance costs.

Industry insiders revealed that this is the first time South Korean politicians have publicly engaged in technical debates over crypto assets, and the election results may determine the country's cryptocurrency regulatory direction. The election will be held on June 3.

#韩国加密货币 #山寨季何时到来

The South Korean presidential election is approaching, and candidate Lee Jae-myung promises to approve cryptocurrency ETFs, targeting young voters.

South Korean presidential candidate Lee Jae-myung recently made bold statements, saying that if elected president, he will not only approve spot cryptocurrency ETFs but also create a safer investment environment for young investors. His remarks strike at the core issue, accurately capturing the voice of young voters in South Korea.

According to the Korea Economic Daily, as the June 3rd election approaches, Lee Jae-myung expressed on social media his hope to help young people 'accumulate assets and plan for the future' by making cryptocurrency investments safer and more accessible.

He also promised to push for the legalization of cryptocurrency spot ETFs, establish a unified regulatory framework, enhance investor protection, and improve market transparency. Additionally, he plans to reduce transaction fees and reform existing regulatory laws to make cryptocurrency a more stable and mainstream investment choice.

Lee Jae-myung's statements are clearly aimed at South Korea's youth. Currently, young people in South Korea find it difficult to afford traditional assets like real estate and stocks, turning to cryptocurrencies for higher returns.

However, he is not the first politician to focus on cryptocurrency voters. Both major parties are actively courting these voters.

The Democratic Party has hired token securities expert Professor Kim Yong-jin to formulate relevant policies and proposed a draft bill for a 'Basic Law for Promoting Digital Assets'.

Meanwhile, the ruling People Power Party has also devised ambitious plans to support the cryptocurrency industry. They even promised to approve Bitcoin spot ETFs this year and plan to introduce a regulatory framework for stablecoins that meets global standards.

Furthermore, People Power Party representative Park Soo-min expressed an urgent attitude regarding the ETF issue, especially seeing that Hong Kong and the U.S. have taken steps ahead. The party also plans to establish a special cryptocurrency committee directly led by presidential candidate Kim Moon-soo, aimed at protecting millions of South Koreans investing in digital assets.

In summary, the political game surrounding cryptocurrency not only relates to the immediate interests of investors but also indicates the policy direction of South Korea's future ruling party in this emerging field.

What do you think of Lee Jae-myung's friendly legislative commitments and the cryptocurrency plans of the two major parties? Is it a positive or negative outlook?

#韩国加密货币 #加密货币ETF

South Korean officials' "crypto assets" exposed! Seoul city councillor actually holds over one million US dollars in cryptocurrencies

According to the civil servant property report disclosed by South Korea on March 27, among the 2,047 officials who reported their property, 411 people owned digital assets with a total value of up to 9.83 million US dollars. In other words, 1 in every 5 senior officials holds cryptocurrencies!

The most eye-catching is Seoul city councillor Kim Hye-young, who topped the list with $1.16 million in crypto assets. Not only does this councillor hold 16 cryptocurrencies (including Bitcoin), but his family also "groups" to invest. His spouse holds Ethereum, Dogecoin and Ripple, and his eldest son also holds more than 3,000 Ripple coins.

Ranked second is another Seoul city councillor Choi Min-kyu, who holds assets such as Ripple worth $1.06 million. The third place is Kim Ki-hwan, CEO of Busan Ulsan Expressway Company, who mainly holds tokens such as LUNC, worth $940,000.

Interestingly, the investment portfolios of these officials are varied. From mainstream Bitcoin and Ethereum to relatively niche tokens such as HORUS and BLACK, there is everything. On average, each official holds $23,000 in crypto assets, which shows the popularity of cryptocurrencies in South Korean politics.

This is the second time that South Korea has forced civil servants to declare crypto assets. According to South Korea's new crypto regulations, officials above level four must declare in detail the types and quantities of currencies they hold, and senior officials must also explain the source of funds and transaction records.

The background reason for the introduction of this policy is that there are 15.5 million crypto investors in South Korea, accounting for nearly 30% of the total population, and 610,000 new investors in October-November last year.

It seems that in South Korea, not only young people are keen on speculating in cryptocurrencies, but even government officials are "really fragrant"! This phenomenon not only reflects the popularity of cryptocurrencies in South Korea, but also highlights the importance of the asset disclosure system for public officials.

With the continuous development of the crypto market, how to ensure the transparency of public officials' assets and avoid potential conflicts of interest will also become an important issue facing the South Korean government.

What do you think of officials holding cryptocurrencies? Is the practice of the South Korean government forcing civil servants to declare digital assets worth learning from other countries?

#韩国加密货币 #官员财产公开 #数字货币投资