Lee Jae-myung has become the new president of South Korea, winning the snap elections with 49.42% of the votes. He promises reforms in the crypto industry, including the approval of spot crypto ETFs, the launch of a stablecoin pegged to the won, and a review of banking regulations for cryptocurrency exchanges. His party has already established a Digital Assets Committee that will focus on regulating stablecoins and licensing issuers. South Korean regulators, who had previously restrained the development of the crypto industry, are now ready to ease regulations, giving Lee a chance to implement his initiatives.
