After taking office, South Korea's new president Lee Jae-myung introduced significant cryptocurrency policies, elevating the crypto sector to a core national strategy. His policy package includes: promoting the legalization of virtual asset spot ETFs, allowing ordinary investors convenient access to cryptocurrency investments, which is expected to attract trillions of won in incremental funds; permitting the state pension fund, with a scale of $884 billion, to directly allocate crypto assets, injecting 'national team' level funding; and strongly advocating for the issuance of won-pegged stablecoins to break the monopoly of dollar stablecoins and prevent wealth outflow, an initiative that may reshape the global stablecoin landscape.

On the regulatory front, Lee Jae-myung abolished the 'one exchange, one bank' restriction rule, establishing a government-led comprehensive monitoring system to balance market competitiveness with investor safety; he significantly raised the tax exemption threshold for crypto trading from 2.5 million won to 50 million won, responding to the demands of over 16 million crypto investors and pushing South Korea to transition from a 'follower' in crypto regulation to a 'rule maker'.

In terms of policy synergy, the Bank of Korea's CBDC pilot program is linked with the crypto strategy, combining a $731 billion scale economy with blockchain technology, initiating changes in monetary sovereignty and financial innovation. Exchanges like Bithumb are leveraging this momentum to recover, with trading volume share rebounding to 25% and plans to go public by the end of 2025, signaling a new phase where institutions and retail investors coexist in the market.

Despite facing challenges such as stablecoin controversies, international regulatory coordination, and the details of policy implementation, Lee Jae-myung's administration has fundamentally changed the ecosystem of South Korea's crypto industry, driving it from 'marginal speculation' to a 'national strategy' turning point. This policy-driven transformation may leave a profound 'Korean imprint' on the global crypto landscape.

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