Market

Both major South Korean presidential candidates are now preparing to announce crypto policies

Cryptocurrencies are becoming a major political battleground in South Korea, where both leading candidates in March’s presidential election are set to introduce a series of related e-money policies.

South Korea’s main presidential candidate Lee Jae-myung supports cryptocurrencies

Incumbent President Moon Jae-in’s government has taken a tough stance on cryptocurrencies, banning initial coin offerings (ICOs), imposing one of the strictest policies on cryptocurrency exchanges, and even sometimes imposing a nationwide trading ban. But the country will go to the polls on March 9 – and cryptocurrency is now a key issue in the campaign.

Lee Jae-myung of the ruling Democratic Party has attempted to appeal to younger voters with a range of pro-crypto policies, speaking about creating an international crypto “hub” through pro-business strategies. Lee even talked about creating a national cryptocurrency system with the goal of distributing it to the public.

The latest survey data from Realmeter shows that his strategy is working: after a poor result in 2021, Lee initially started a year ahead of party rival Yoon Suk-yeol. People’s Power is in opposition, leading 40.9% to 39.2%.

Korea’s main presidential candidate Yoon Suk-yeol There are also crypto commitments

Like Britain, South Korea is a de facto bipartisan state, meaning that unless there is an election miracle, either Yoon or Lee will come to power in the spring.

And so it seems Yoon Suk-yeol will not stand idly by as his adversary fascinates the youth and business community with progressive politics – and has decided to retaliate with his own crypto-related commitments.

Money Today reported that Yoon will deliver a speech outlining his full stance on crypto and his vision for the industry on Jan. 19, about two weeks ahead of schedule. It seems Yoon is now desperately trying to stop Lee from calling himself a hero in the crypto community.

The report states that political sources have indicated that Yoon will promise in the speech to “create an environment where crypto investors can invest with confidence.”

Sources pointed out that the decision to deliver the speech was made because Lee had scheduled a meeting with the CEOs of the country’s four largest cryptocurrency exchanges for the morning of the same day.

The media outlet claims that Yoon’s promises will “likely include measures” to “protect investors” as well as policies to strengthen the non-fungible token (NFT), junior, and metaverse fields.

Yoon will also develop policies aimed at “reviving” the blockchain and cryptocurrency exchange industries.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Important NOTE: All content on the website is for informational purposes only and in no way constitutes investment advice. Your money, the choice is yours.

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

25 minutes ago

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

2 hours ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

2 hours ago

Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!

XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…

2 hours ago

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

3 hours ago

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

4 hours ago

This website uses cookies.