#SouthKoreaCryptoPolicy The cryptocurrency sector of South Korea is ready to grow regardless of the results of the upcoming extraordinary presidential elections on June 3. Both candidates have promised to ease regulations, legalize spot cryptocurrency ETFs, and launch a won-backed stablecoin to modernize finance.

Lee Jae-myung of the Democratic Party and Kim Moon-soo of the conservative People Power Party share a strong position in support of cryptocurrencies.

Lee proposes to allow the national pension fund to invest in cryptocurrency and to relax strict banking rules that require exchanges to work with licensed banks. Both candidates also support the legalization of spot cryptocurrency ETFs, reflecting a rare bipartisan consensus.