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?
