South Korea's new president Lee Jae-myung was elected on June 3, 2025, making him the first president in South Korean history to explicitly advocate for a friendly approach to cryptocurrency. He promised during his campaign:
1. Legalization of spot ETFs such as Bitcoin to align with the international market.
2. Promotion of the issuance of a stablecoin pegged to the Korean won to prevent capital outflow and strengthen the stability of the local currency.
3. Encouragement for national pension funds and institutions to invest in digital assets, while reducing transaction costs.
4. Establishment of a comprehensive regulatory and investor protection framework (such as the 'Digital Asset Basic Law' and a dedicated committee) to enhance market transparency.
In addition, starting from June 2025, South Korea's financial regulatory authorities will implement stricter customer review regulations for exchanges and non-profit organizations, officially entering the stage of institutionalized regulation.
In summary, after taking office, Lee Jae-myung will further promote the institutionalization and legalization of the cryptocurrency industry, combining market innovation with regulatory protection, injecting new momentum into the development of Web3 in South Korea.
