#SouthKoreaCryptoPolicy

South Korea Elects Crypto-Friendly Lee Jae-myung as New President

During the election, Lee Jae-myung made a host of crypto promises to appeal to the nation's 15 million crypto investors.

By Camomile Shumba|Edited by Nikhilesh De, Cheyenne Ligon

Jun 5, 2025, 12:03 a.m.

South Korea's President Lee Jae-myung (Getty Images/Chung Sung-Jun)

Lee Jae-myung was elected as South Korea's president, defeating the Conservative Party's Kim Moon-soo by nearly three million votes.

Lee has promised to support South Korea's crypto industry, including legalizing spot cryptocurrency ETFs and allowing institutional investments.

South Korea has implemented new crypto regulations, including the Virtual Asset User Protection Act, to oversee and protect digital asset transactions.