South Korea's new president Lee Jae-myung wants to do three things in the cryptocurrency world
GOOD NEWS FOR CRYPTO WORLD 😊
South Korea’s new president, Lee Jae-myung, plans to boost the country’s crypto market by promoting a Korean won stablecoin and crypto ETFs. He aims to attract young investors and strengthen financial reforms. His policies include legalizing crypto ETFs, allowing national pension funds to invest in crypto, and creating a won-backed stablecoin to reduce reliance on US dollar stablecoins like USDT.
The summary of three things he would like to do -
1. Korean Won Stablecoin
- Goal: Replace USD-backed stablecoins (like USDT/USDC) with a government-approved KRW₮ stablecoin.
- Why? Reduce reliance on foreign currencies and strengthen the Korean won’s financial sovereignty.
2. Legalize Crypto ETFs (Exchange -Trded Fund)
- Goal: Approve spot Bitcoin/ETH ETFs (like the U.S. and Hong Kong) for safer institutional investment.
- Why? Make crypto accessible to mainstream investors with regulated products.
3. National Pension Fund Crypto Exposure
- Goal: Allow South Korea’s $884 billion pension fund to invest in Bitcoin and other crypto assets.
- Why? Diversify national reserves and hedge against global economic risks.
