Lee Jae-myung Elected #SouthKorean President With #Pro-Crypto Agenda


South Korea elected pro-crypto candidate Lee Jae-myung as president following Wednesday's election results.


Lee secured 49.42% of votes against opponent Kim Moon-soo's 41.15% in the highest turnout in 28 years.


The new president pledged to enable local adoption of spot #cryptocurrency exchange-traded funds.


Lee committed to establishing a Korean won-pegged #stablecoin market to prevent domestic capital outflow.


His administration will work to complete the second phase of #DigitalAsset regulatory framework legislation.


South Korea currently bans the local issuance and trading of any crypto ETFs under existing regulations.


The country hosts nearly 9.7 million crypto exchange users, accounting for approximately 20% of the total population.


Lee's victory follows former president Yoon Suk-yeol's impeachment after failed military rule attempts.


Previous crypto-friendly promises by Yoon faced resistance from financial regulators during his three-year term.

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June 04, 2025 at 11:58 AM