Lee Jae-myung Promotes Pro-Crypto Regulations, Vows to Legalize Digital Asset ETFs
Jakarta, Pintu News—In an effort to attract young voters, Lee Jae-Myung, the presidential candidate of South Korea’s Democratic Party, promised to approve spot crypto exchange-traded funds (ETFs) and create a safer investment environment.
Ahead of the presidential election on June 3, Lee emphasized that digital assets will be an important part of his economic strategy. He committed to making crypto investments safer and more accessible and proposed the establishment of a unified supervisory system.
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Strategies to Attract Young Voters
Lee Jae-myung recognizes that many young South Koreans are constrained in accessing traditional assets such as real estate and stocks. Therefore, he sees crypto as a promising investment alternative.
In a social media post, Lee expressed his desire to help youth build assets and plan for a better future through crypto. With these progressive promises, Lee hopes to reduce transaction costs and revise existing regulations.
This is expected to make crypto a more stable and mainstream investment option. This approach seems particularly aimed at attracting young voters who are looking for investment alternatives with more attractive returns.
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Competition in the Political Scene
It’s not just Lee Jae-myung who is eyeing the vote potential of crypto users. His ruling party, the People Power Party, has also revealed ambitious plans to support the crypto sector. They are committed to approving a spot Bitcoin ETF within the year and want to abolish the current one-exchange-one-bank rule.
In addition, the People Power Party plans to allow financial institutions to transact crypto and implement a stablecoin regulatory framework that complies with global standards.
These moves suggest that both major parties in South Korea are racing to gain the support of around 16 million crypto users, who make up around 36% of the total electorate.
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Impact on Crypto Market
If these promises are realized, South Korea is crypto market will likely experience significant growth. The legalization of spot crypto ETFs could encourage institutional and retail investors to participate more actively in the crypto market. It will also increase the transparency and safety of investments in the sector.
More unified and systematic supervision will help reduce the risks associated with crypto investments. This is important to protect investors from high market volatility and the risk of fraud.
As such, this policy will affect young voters and have a positive impact on the overall crypto ecosystem in South Korea.
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