South Korea's Upcoming Legislative Election Puts Crypto-Related Policies in the Spotlight

The upcoming legislative polls in South Korea may be influenced by the crypto-related promises made by the two main parties. With a significant number of crypto investors in the country, even a small percentage of voters casting their ballot based on crypto policies could have an impact on the election result. Young people, who make up the majority of the crypto ecosystem, are expected to play a crucial role in the election. The conservative People Power Party (PPP) plans to prioritize the establishment of a regulatory framework for cryptocurrencies before implementing any taxation policies, while the liberal Democratic Party of Korea (DPK) proposes a comprehensive framework but wants to maintain the start of crypto taxation in 2025. Both parties are competing for the support of crypto-savvy voters, but it is unlikely that market regulation will be implemented during this election year.