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South Korea has just elected a new president named Lee Jae-myung, who is friendly towards cryptocurrencies. In this election, he won nearly 3 million votes, defeating the incumbent conservative opponent Kim Moon-soo.

During the campaign, Lee Jae-myung promised to support the crypto industry, such as legalizing spot crypto ETFs, and mentioned that national pension funds and other large institutions could also invest in some cryptocurrencies. He also stated that South Korea should develop its own won stablecoin to prevent money from flowing overseas.

In fact, South Korea has made significant moves in the crypto space in recent years. Last year, they passed the Virtual Asset User Protection Act, which clarifies what digital assets are and outlines penalties for unfair trading, while also allowing financial regulatory agencies to supervise crypto service providers. #韩国加密政策

Now, not only exchanges but even some non-profit organizations can legally sell cryptocurrencies under the new regulations.

Overall, South Korea, like countries such as Hong Kong and Pakistan, is increasingly valuing the crypto industry, especially since the global crypto market capitalization has surged to $3.4 trillion, becoming more mainstream. #加密货币