{"id":26738,"date":"2025-05-14T13:33:10","date_gmt":"2025-05-14T13:33:10","guid":{"rendered":"https:\/\/dogewisperer.com\/top-south-korean-presidential-hopefuls-support-legalizing-bitcoin-etfs\/"},"modified":"2025-05-14T13:33:10","modified_gmt":"2025-05-14T13:33:10","slug":"top-south-korean-presidential-hopefuls-support-legalizing-bitcoin-etfs","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=26738","title":{"rendered":"Top South Korean presidential hopefuls support legalizing Bitcoin ETFs"},"content":{"rendered":"
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South Korea could soon follow Hong Kong in legalizing spot Bitcoin exchange-traded funds (ETFs), as the country\u2019s top presidential candidates express pro-crypto positions. <\/p>\n

However, some industry observers remain cautious about the likelihood of near-term regulatory change.<\/p>\n

\u201cAll three major South Korean presidential candidates support #Bitcoin ETFs and institutional investment,\u201d Ki Young Ju, the founder and CEO of onchain data platform CryptoQuant, wrote<\/a> in a May 14 X post.<\/p>\n

Currently, Bitcoin ETFs and institutional crypto investments are banned in South Korea, meaning that \u201c100% [of the] volume comes from retail,\u201d Ju added.<\/p>\n

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Source: <\/em>Ki Young Ju<\/em><\/a><\/figcaption><\/figure>\n

Related: <\/strong><\/em>Bitcoin more of a \u2018diversifier\u2019 than safe-haven asset: Report<\/strong><\/em><\/a><\/p>\n

On May 6, South Korea\u2019s Democratic<\/a> Party leader Lee Jae-myung promised to legalize spot crypto ETFs, lower transaction fees and \u201ccreate a safe investment environment so that young people can [build] assets and plan for the future, according<\/a> to a report from The Korean Economic Daily (KED).<\/p>\n

The Democratic Party made similar promises in its 2024 election campaign, including the legalization of spot crypto ETFs<\/a>, but progress has been delayed, reported KED.<\/p>\n

Related: <\/strong><\/em>SEC delays Solana ETF as decisions for Polkadot, XRP loom<\/strong><\/em><\/a><\/p>\n

Candidates back ETFs, but history casts doubt<\/h2>\n

While the crypto-friendly perspectives of the leading candidates suggest a promising future for digital asset legislation in South Korea, regulation experts remain skeptical.<\/p>\n

\u201cThe candidates\u2019 pro-crypto pledges to push to legalize spot Bitcoin ETFs and reduce fees signal a potential shift. But history tempers optimism,\u201d Anndy Lian, author and intergovernmental blockchain adviser, told Cointelegraph, adding:<\/p>\n

\u201cThey will take on similar stances as Hong Kong. Whether the ETFs can perform or not depends on various other factors.\u201d<\/p><\/blockquote>\n

\u201cA pro-crypto president could drive reform, aligning South Korea with global trends like the US, where Bitcoin ETFs have attracted over billions in net inflows,\u201d Lian said, adding that the Financial Services Commission\u2019s tone also suggested \u201cregulatory openness\u201d for cryptocurrencies.<\/p>\n

However, the People Power Party, elected in 2022, also promised to lift the crypto ETF ban and revise the controversial one-exchange-one-bank rule, \u201cbut failed to act before President Yoon\u2019s impeachment,\u201d Lian said.<\/p>\n

Over in Hong Kong, the first batch of Bitcoin and Ether-based ETFs<\/a> launched for trading on April 30, 2024, but saw disappointing trading activity<\/a> compared to their US counterparts, Cointelegraph reported.<\/p>\n