The new South Korean president makes a bold move! Crypto ETF + Korean won stablecoin are coming!
Lee Jae-myung elected as the president of South Korea (with a vote rate of 49.42%) has directly announced major actions in crypto:
1. Spot cryptocurrency ETF - opening a channel for institutional funds to enter
2. Korean won stablecoin - the Korean version of USDT is on the way
3. Relaxation of regulations + special zone experiments - directly giving the green light to blockchain companies
7.7 million cryptocurrency traders in South Korea (20% of the national population) are ecstatic! The previous president's big promises didn’t materialize, but this time, Lee Jae-myung has the backing of the Financial Services Commission, making policy implementation highly probable.
Impact on the market:
Short-term: South Korean concept coins (like KLAY, WEMIX) may be hyped
Long-term: The battle for the Asian crypto center, with South Korea competing with Hong Kong and Singapore for dominance
Operational advice:
Keep an eye on unusual movements in South Korean exchanges (Upbit, Bithumb)
Prepare for quality local projects in South Korea (avoid low-quality projects)
