According to Gate News bot, reports indicate that South Korea’s left-wing party candidate Lee Jae-myung defeated his right-wing opponent Kim Moon-soo, who received 41.15% support, with a vote rate of 49.42%, successfully becoming the new President of South Korea. Lee Jae-myung stated that he will actively promote the development of South Korea’s Crypto Assets industry, with specific policies including the opening of local Spot Crypto Assets ETFs, the development of the Korean Won stablecoin market, the establishment of a regulatory system for digital assets, and the relaxation of Blockchain regulations in specific areas to promote innovation.
As one of the largest Crypto Assets markets in the world, South Korea currently has about 9.7 million trading users, accounting for 20% of the country’s total population. Against the backdrop of a shift in attitude from the Financial Services Commission, Lee Jae-myung is expected to advance his encryption policy, contrasting with the previous president Yoon Suk-yeol’s failure to realize the commitment to a crypto-friendly environment.
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