On June 3, 2025, South Korea elected Lee Jae-Myung, a candidate from the Democratic Party, as its new president, receiving 49.42% of the votes in the snap election. His opponent, conservative Kim Moon-Soo, received 41.3% and conceded defeat. The election took place after the impeachment of Yoon Suk-Yeol for attempting to impose martial law in December 2024.
Lee Jae-Myung, known for his support of cryptocurrencies, promised to legalize spot Bitcoin ETFs and launch a stablecoin pegged to the Korean won. These initiatives are aimed at reducing capital outflow, as the FSC reports that $40.8 billion was withdrawn from the country in 2025 through foreign stablecoins. Lee also advocates for the integration of cryptocurrencies into the financial system, proposing clear regulations and attracting institutional investors.
Experts, including Simon Soojun Kim from Hashed Ventures, believe that Lee's victory will contribute to the development of the crypto industry, as both candidates supported the liberalization of the market. With 15 million crypto investors in South Korea, these changes could have a significant impact. Stay tuned for updates to stay informed! Subscribe to #MiningUpdates .
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