Bitcoin in South Korea: Pro-crypto candidate Lee Jae-myung wins the presidential elections
A pro-Bitcoin president. South Korea is a country where people are very fond of cryptocurrencies, and it was one of the first to welcome exchange platforms. These platforms have greatly benefited from clear and favorable regulations since 2018. And now, the country could become even more crypto-friendly with the election of Lee Jae-myung as president.
Key points of this article:
South Korea has elected Lee Jae-myung, a pro-Bitcoin president, raising hopes for a crypto-friendly future.
With a historic voter turnout of 80%, this election marked a potential turning point for the crypto ecosystem.
Lee Jae-myung elected president of South Korea
On June 3, South Korean citizens were called to the polls to elect their new president, and center-left candidate Lee Jae-myung won the election with 49% of the votes. His opponent from the Conservative Party, Kim Moon-soo, received 41% of the votes.
This is a historic election, as the voter turnout reached 80%, the highest participation rate since 1997. The winner campaigned on a series of pro-crypto policies, and his election could indeed be good news for our ecosystem.
A pro-crypto and pro-Bitcoin election
He wishes, for example, to allow the national pension fund to invest in Bitcoin and cryptocurrencies, and he also promised to allow the launch of spot Bitcoin ETFs in the country.
On his part, candidate Kim Moon-soo also made pro-crypto promises. He supported, for example, the launch of crypto ETFs and committed to easing regulations and expanding the adoption of cryptocurrencies. But this clearly was not enough for him to be elected.
In any case, we will now have to wait and see if Lee Jae-myung will keep his campaign promises, but let's still acknowledge the pro-crypto positions of the new strongman of Seoul. And for once, Bitcoin detractors cannot say that it is yet another conservative who is taking on the crypto issue! After Milei, Trump, and Bukele, we are delighted to see the politically reasonable center-left also addressing these questions. Hopefully, this will inspire the French and European left…$BTC