According to BlockBeats news, on June 2nd, Bloomberg reported that South Korean voters will go to the polling stations to vote in the current presidential election on Tuesday. Regardless of the presidential election result, the cryptocurrency industry will benefit. Two popular candidates, Lee Jae myung and Kim Won soo, have promised to relax regulations and expand digital asset acquisition channels. Candidate Lee Jae myung proposed legalizing spot crypto ETFs and even allowing South Korea's $884 billion pension fund to invest in crypto assets. He also advocated for the widespread issuance of stablecoins pegged to the Korean won as part of his modern financial system and strategy to curb capital outflows.
Currently, over one-third of the population in South Korea (approximately 18 million people) are involved in digital asset trading, making it one of the most active cryptocurrency markets in the world. On some trading days, the trading volume of South Korean cryptocurrency trading platforms even exceeded that of the stock market. According to data released by the Bank of Korea, as of the end of last year, the total value of encryption assets held by Koreans was about 74.5 billion dollars.
