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South Korea has just witnessed a historic turning point as Mr. Lee Jae-Myung – a pro-crypto candidate – was elected president with 49.42% of the vote. This victory promises to boost bold crypto policies, including the approval of Bitcoin ETFs and the issuance of a stablecoin pegged to the Won, aimed at mitigating capital outflows.

New Opportunities for the Korean Crypto Market

  • Bitcoin ETF: Lee is committed to legalizing #ETFbitcoin similar to the US and Hong Kong, paving the way for institutional money to flow into the market. According to analyst Min Jung (Presto Research), the likelihood of the ETF being approved under Lee is 'significantly higher.'

  • National stablecoin: Plans to issue a stablecoin pegged to the Won to prevent money transfer overseas through USDT/USDC (which accounts for ~50% of the $40.6 billion in crypto transactions in Q1 2025).

Long-Term Vision: Balancing Crypto and the Economy

Besides crypto, the new president focuses on:

  • High technology: Boosting investment in AI, semiconductors, and defense.

  • Social reforms: Shortening the workweek to 4.5 days, supporting small businesses, and reducing family taxes.

Reasons for optimism:

  • Lee previously experimented with NFTs in the 2022 election campaign to attract young voters, showing an open-minded approach to blockchain technology.

  • In contrast, former President Yoon Suk-yeol, despite promising reforms, failed due to conflicts with the Financial Services Commission (FSC).

Challenges Ahead

Despite the positive outlook, experts note:

  • #stablecoin requires a strict legal framework to ensure monetary stability.

  • The ETF approval process may be slower than expected due to barriers from regulators.

Conclusion:
Lee Jae-Myung's inauguration (expected on July 17) marks a new advancement for crypto in South Korea – a country that has led in adoption but lagged in the legal framework. If successful, this could serve as a model combining crypto and the traditional economy for other Asian countries to reference.

⚠️ Risk warning:
Investing in cryptocurrency carries high risks due to price volatility. The information in this article is for reference only and is not financial advice. Readers should do their own research (DYOR) before making decisions.#anhbacong