With a personal history that took him from a young worker to the presidency, Lee Jae-myung begins his term as a progressive leader determined to reform South Korea's economic and technological landscape. Although he did not directly mention cryptocurrencies in his inaugural speech on June 4, his track record and campaign promises position his government as one of the most crypto-friendly to date. #SouthKoreaCryptoPolicy
Lee strongly supports the approval of the long-awaited Digital Asset Basic Law (DABA), which will include clear rules for exchanges, a regulated system for stablecoins, and potential spot cryptocurrency exchange-traded funds (ETFs). He also supports allowing the National Pension Fund to invest in crypto assets, a clear sign of institutional openness.
However, his rise to power is overshadowed by multiple ongoing legal proceedings, including accusations of corruption, perjury, and illegal fund transfers to North Korea. The first key trial will begin on June 18.
Despite the controversies, Lee's rise represents a unique opportunity for South Korea to establish itself as a leader in modern crypto regulation. With a highly active retail market, his administration could mark the beginning of a new era in the convergence between digital assets and traditional financial infrastructure.