The South Korean politician Lee Jae-Myung has sworn to properly approve Spotcyptocurrency exchange-exchange funds and to create a safer investment environment for young investors if he is chosen as president.
Lee, who is the presidential candidate of the Democratic Party, has rolled A series of crypto-friendly promises as part of a larger pitch to win younger voters, according to a Korea Economic Daily Report.
When the elections of 3 June approached, Lee made it clear that digital assets would play an important role in his plans.
In a social media post on May 6, Lee said he wants to help young people ‘[build] Assets and plan for the future ”by making crypto investments safer and more accessible.
He promised to insist on the legalization of spotcypto ETFs, together with creating a united supervisory system to strengthen the protection for investors and to bring more transparency to the market.
In addition to other reforms, Lee said he would work to reduce trading costs and revise the current regulations, indicating a broader effort to make Crypto a more stable and regular investment option for everyday users.
Lee’s message seems entirely focused on younger South Koreans who have been exhausted From traditional assets such as real estate and shares and turn to crypto looking for better returns.
Lee participates in a growing list of politicians who try to win crypto voters. With around 16 million crypto users, around 36% of the electorate, investors of digital assets have become an important voice block. Politicians from both large parties actively make them wishes.
The Democratic Party has reportedly introduced a token-effect expert, Professor Kim Yong-Jin, to help shape the policy, and one of its legislators recently introduced a bill the Digital Asset Promotion Basic Act.
In the meantime, the ruling People Power Party has drawn up its own ambitious plan to support the crypto sector.
In April, the party unveiled a seven -part strategy, including an obligation to approve Spot Bitcoin ETFs this year. Furthermore, in the regulation of South Korea, it wants to scrape in one exchange-a-Bancari Bank, allow institutions to trade crypto and roll out a stablecoin regulatory framework in accordance with worldwide standards.
As previously reported by crypto.news, the representative park Soo-Min of the People Power Party said that South Korea “has no time to postpone” on ETFs, especially with jurisdictions such as Hong Kong and the US that are already going further.
The party also insists on setting up a special crypto committee, directly under their presidential candidate, Kim Moon-Sooo, who has spoken about the lack of protection for the millions of Koreans who have now invested in digital assets.
