South Korea’s Crypto asset Landscape Is Poised to Explode No Matter Who Secures Election Victory
In South Korea, cryptocurrency is more than an investment; it represents a lifestyle. With more than 18 million individuals engaged in digital asset trading, transaction volumes exceed those of the country’s two primary stock exchanges, the Kospi and Kosdaq. Crypto has emerged as a significant political influence.
As South Korea approaches election week, there’s one clear victor—crypto.
Election Results? Doesn’t Matter, Crypto Prevails Regardless
Both presidential hopefuls, liberal Lee Jae-myung and conservative Kim Moon-soo, have embraced pro-crypto stances in their electoral platforms. They advocate for reduced regulations and expanded access, even suggesting the legalization of spot crypto ETFs.
Currently, South Koreans possess over $74.5 billion in digital currency, indicating that it’s no minor trading market.
BREAKING: The presidential candidates in South Korea pledge to legalize spot crypto ETFs, relax regulations, and introduce a won-backed stablecoin. pic.twitter.com/jAfVYp4Gxm
— CoinGecko (@coingecko) June 2, 2025
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It seems these candidates are competing to present the most advantageous crypto policies. Lee is advocating that the nation’s $884 billion pension fund should invest in crypto asset. Incredible.
Imagine the impact this will have on the market. Public fund-backed ETFs are certainly a catalyst for a optimistic trend. Strangely enough, even his rival backs this idea.
Such bipartisan price floor for crypto is quite unprecedented.
BREAKING: KOREA’S SECOND-LARGEST PARTY PRESIDENTIAL CANDIDATE SEEKS TO INVEST NATIONAL PENSION FUNDS IN #BITCOIN
ASIA IS EMERGING
pic.twitter.com/hgQkL8ix1o
— The Bitcoin Historian (@pete_rizzo_) April 30, 2025
All these developments have positioned South Korea’s crypto landscape to be among the largest globally. However, not every candidate is entirely aligned with the crypto movement.
The Stablecoin Controversy
Not all initiatives are embraced. Lee’s plan for a won-pegged stablecoin aims to innovate South Korea’s financial system and prevent capital from flowing out through USDT and USDC.
This perspective is logical, especially when considering that in the first quarter of 2025, 56.81 trillion Won exited Korean exchanges, with a significant portion funneled through dollar-backed stablecoins.
— Cointelegraph (@Cointelegraph) May 20, 2025
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Meanwhile, the Bank of Korea is not in favor of this initiative. Governor Rhee Chang-yong posits that stablecoin issuance should be the responsibility of central banks, not private entities, as it could jeopardize monetary policy.
This scenario resembles the ongoing TradFi vs. Decentralized finance debates we’ve seen in the U.S.
Trump, Stablecoins, and Asia’s Reaction
On a different front, Trump is already working on establishing US dollar stablecoin supremacy, labeling them as instruments for maintaining America’s global advantage.
In response to this urgency, Asian lawmakers are acting quickly, and South Korea is striving to keep pace in this crypto tug-of-war.
TRUMP’S WORLD LIBERTY FINANCIAL UNVEILS $USD1 STABLECOIN, ENTIRELY BACKED BY U.S. TREASURIES AND CASH EQUIVALENTS.
THIS IS INCREDIBLY BULLISH
— Crypto Rover (@rovercrc) March 25, 2025
Although the Virtual Asset User Protection Act was enacted in July 2024, tensions remain high. This legislation implemented rigorous exchange crypto law and severe penalties for crypto fraud.
Exchanges are now required to safeguard user funds, maintain high-security standards, and prepare to compensate users in case of hacks.
Koreans are taking this matter seriously, particularly following the $40 billion collapse of TerraUSD. Additionally, Do Kwon, the South Korean figure involved, is set to stand trial in the U.S. for fraud.
CURRENT: Do Kwon’s trial is scheduled for January 26th, 2026, concerning the Luna collapse.
If found guilty on all counts, he could receive a sentence of up to 130 years in prison. pic.twitter.com/CIKOjsuA0q
— Crypto India (@CryptooIndia) January 9, 2025
In summary, South Korea is evolving into a major player in the crypto arena. While cautious, the approach taken by Korea is strategic and will undoubtedly attract more crypto enthusiasts.
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The article South Korea Crypto Scene Is About To Pop Regardless Who Wins the Election originated from 99Bitcoins.
