Lee Jae-Myung, the Democratic Occasion of Korea presidential candidate, has pledged to introduce a digital asset spot exchange-traded fund (ETF) and introduce crypto reforms within the nation.
“I’ll create a protected funding atmosphere in order that younger individuals can kind property and plan for the longer term,” mentioned Lee Jae-Myung. In keeping with ‘7 main digital asset pledges,’ he promised to institutionalize digital asset spot ETFs and construct an built-in monitoring system. He additionally proposed a coverage to reorganize the market beneath authorities management, saying, “I’ll induce a discount in transaction charges.”
In line with 6 Could 2025 local media reports, that is the primary time {that a} candidate has talked about digital property in a presidential election pledge. Lee Jae-Myung’s pledge is interpreted as an intention to carry digital property into the institutional system and improve security.
Notably, South Korea’s ruling Individuals Energy Occasion (PPP) unveiled a sweeping set of crypto reforms final month, together with the approval of spot cryptocurrency ETFs and a revamp of the nation’s digital asset framework. A centerpiece of the PPP’s pledge is the legalization of spot crypto ETFs—a transfer geared toward aligning South Korea with world monetary markets.
Citing the US Securities and Alternate Fee’s choice in January to approve spot Bitcoin ETFs, lawmaker Park Soo-min emphasised the urgency of maintaining tempo with worldwide regulatory developments.
Big information for #crypto in South Korea!
Presidential front-runner Lee Jae-myung pledges to greenlight spot #Bitcoin ETFs if elected.
Prepare for a brand new period of safe, accessible buying and selling on platforms like @XBITDEX!
pic.twitter.com/gGkpRKngR7
— XBIT (@XBITDEX) May 7, 2025
Discover: 20+ Next Crypto to Explode in 2025
Crypto Buying and selling Continues To Surge In South Korea
Within the meantime, crypto trading has surged, exceeding the South Korean inventory market exercise, the place digital property reached a market capitalisation of over 100 trillion gained ($74.8 billion). Furthermore, world political shifts such because the election of Donald Trump as President of the US have influenced a fivefold improve in buying and selling quantity.
The nation has delayed the 20% capital good points tax on crypto until 2027, citing enforcement challenges. The federal government is cracking down on market manipulation by imposing crypto corporations to adjust to the Digital Asset Consumer Safety Act (VAUPA), which mandates stricter oversight of digital property.
Regardless of regulatory scrutiny, South Korea stays one of many world’s most energetic crypto markets at the moment. Altcoins reminiscent of XRP are particularly well-liked within the area, showcasing South Korea’s desire for a quick and cost-effective transaction answer.
EXPLORE: 10 Best AI Crypto Coins to Invest in 2025
Key Takeaways
Lee Jae-myung, the Democratic Occasion of Korea presidential candidate, has pledged the introduction of a digital asset spot ETFs.
“I’ll create a protected funding atmosphere in order that younger individuals can kind property and plan for the longer term,” mentioned Lee Jae-myung.
Why you’ll be able to belief 99Bitcoins
Established in 2013, 99Bitcoin’s workforce members have been crypto consultants since Bitcoin’s Early days.
90hr+
Weekly Analysis
100k+
Month-to-month readers
50+
Professional contributors
2000+
Crypto Initiatives Reviewed
Observe 99Bitcoins in your Google Information Feed
Get the newest updates, traits, and insights delivered straight to your fingertips. Subscribe now!
Source link