{"id":29768,"date":"2025-06-02T12:16:55","date_gmt":"2025-06-02T12:16:55","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=29768"},"modified":"2025-06-02T12:16:55","modified_gmt":"2025-06-02T12:16:55","slug":"south-korean-crypto-industry-hedges-a-win-despite-election-outcome","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=29768","title":{"rendered":"South Korean Crypto Industry Hedges A Win Despite Election Outcome"},"content":{"rendered":"<div>\n<p>This week\u2019s presidential election marks a significant step forward for the South Korean crypto landscape, as both candidates have pledged to refine crypto regulations and expand access to the country.<\/p>\n<p>According to a Bloomberg <a class=\"general-link\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-01\/south-korea-crypto-industry-to-gain-no-matter-who-wins-election\" target=\"_blank\" rel=\"noopener nofollow\">report<\/a> published on 2 June 2025, approximately 18 million people actively participate in crypto-related activities in South Korea. Furthermore, there have been instances where South Korea\u2019s domestic crypto exchanges have recorded a higher trade turnover than the KOSPI and KOSDAQ stock indices.<\/p>\n<p>Data published by the Bank of Korea shows that South Koreans held crypto assets worth 104 trillion won (<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/this-week-in-crypto-asia-south-korea-vietnam-malaysia-thailand-and-hong-kong-in-spotlight\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">$74.5 billion<\/a>) during the later stages of 2024.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">NEWS: South Korea\u2019s presidential candidates vow to legalize spot crypto ETFs, ease rules, and launch a won-backed stablecoin. <a href=\"https:\/\/t.co\/jAfVYp4Gxm\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/jAfVYp4Gxm<\/a><\/p>\n<p>\u2014 CoinGecko (@coingecko) <a href=\"https:\/\/twitter.com\/coingecko\/status\/1929389945506202000?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">June 2, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The growing importance of this asset class has prompted both candidates, Lee Jae-myung and Kim Moon-soo, to adopt pro-crypto policies in their campaigns.<\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/crypto-presales\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">The 12+ Hottest Crypto Presales to Buy Right Now<\/a><\/p>\n<h2><strong>Presidential Candidates Lee and Kim Aligned on Legalising Spot Crypto ETFs<\/strong><\/h2>\n<p><a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/south-korean-presidential-candidate-lee-jae-myung-pledges-to-legalize-crypto-etfs-if-elected-next-month\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Lee has advocated<\/a> for legalising spot crypto exchange-traded funds (ETFs) and further hopes to be able to invest the country\u2019s $884 billion national pension fund into cryptocurrencies.<\/p>\n<p>Moreover, he also plans to modernise South Korea\u2019s financial system by issuing stablecoins backed by the South Korean won. During a policy discussion meeting in May, he had said, \u201cWe need to establish a won-backed stablecoin market to prevent national wealth from leaking overseas.\u201d<\/p>\n<p>Additionally, Lee has also advocated for loosening some of the banking restrictions that required crypto exchanges to partner up with licensed banks to offer fiat services.<\/p>\n<p>However, some of the reforms proposed by Lee have faced backlash in the region. The Bank of Korea Governor Rhee Chang-yong has cautioned against stablecoins issued by non-banking institutions.<\/p>\n<p>He explained that doing so would undermine the effectiveness of the monetary policies of the country. He has advocated for the central bank to be the only institution to be able to create won-backed stablecoins.<\/p>\n<p>Kim, on the other hand, also supports legalising spot crypto and has lent his support to Lee in this matter in a rare moment of bipartisan alignment. Furthermore, similar to Lee, Kim also plans to ease regulations and expand crypto adoption.<\/p>\n<p>A poll conducted on 28 May 2025 by Gallup Korea, a South Korean research company specialising in public opinion surveys and market research, revealed that 49% of the respondents favoured Lee, while 39% of the respondents picked Kim as their presidential candidate.<\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-1000x-crypto\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">10+ Crypto Tokens That Can Hit 1000x in 2025<\/a><\/p>\n<h2><strong>Increased South Korean Crypto Participation Hastened Crypto Regulations<\/strong><\/h2>\n<p>South Korea\u2019s increased retail crypto participation, along with its experience in the past with <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/south-korean-authorities-uncover-232m-crypto-fraud-youtube-star-in-spotlight\/\" rel=\"\">crypto frauds<\/a>, hastened new <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/south-koreas-mandatory-new-laws-for-crypto-exchanges-kicks-in\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">regulations<\/a> through which the country intends to ensure greater transparency, security, and trust in the cryptocurrency ecosystem.<\/p>\n<p>Strict regulations (Virtual Asset User Protection Act) were brought into focus in July 2024. They imposed strict requirements on crypto exchanges that included potential life sentences for criminal violations.<\/p>\n<p>South Korea\u2019s Financial Services Commission, on 20 May 2025, established new regulations for non-profit crypto transactions and tightened listing criteria for exchanges.<\/p>\n<p>Furthermore, the South Korean Democratic Party kick-started a Digital Asset Committee to develop crypto policies and promote industry growth.<\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/high-risk-high-reward-crypto\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">9+ Best High-Risk, High-Reward Crypto to Buy in June 2025<\/a><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h2 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h2>\n<ul class=\"nnbtc-key-takeaways__list\">\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Presidential candidate Lee hopes to invest South Korea\u2019s $884 billion national pension fund into cryptocurrencies    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Both presidential candidates Lee Jae-myung and Kim Moon-soo are aligned in legalising spot crypto ETFs    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Candidate Lee plans to modernise South Korea\u2019s financial system by issuing stablecoins backed by the South Korean won    <\/li>\n<\/ul><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/south-korean-crypto-industry-hedges-a-win-despite-election-outcome\/\">South Korean Crypto Industry Hedges A Win Despite Election Outcome<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>This week\u2019s presidential election marks a significant step forward for the South Korean crypto landscape, as both candidates have pledged to refine crypto regulations and expand access to the country. According to a Bloomberg report published on 2 June 2025, approximately 18 million people actively participate in crypto-related activities in South Korea. Furthermore, there have [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-29768","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/29768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29768"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/29768\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}