Bloomberg: Regardless of South Korea's Election Outcome, the Crypto Industry Will Benefit

According to a report by Jinse Finance, as reported by Bloomberg, South Korean voters will head to the polls on Tuesday for the presidential election. Regardless of the outcome, the cryptocurrency industry is set to benefit, as both leading candidates, Lee Jae-myung and Kim Moon-soo, have pledged to ease regulations and expand access to digital assets. Candidate Lee Jae-myung has proposed legalizing spot crypto ETFs and even allowing South Korea's $884 billion pension fund to invest in crypto assets. He also advocates for the widespread issuance of stablecoins pegged to the Korean won as part of a modernized financial system and a strategy to curb capital outflow. Currently, over one-third of South Korea's population (approximately 18 million people) is involved in digital asset trading, making it one of the most active crypto markets globally. The trading volume on some South Korean crypto exchanges even surpasses 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 crypto assets held by South Koreans was approximately $74.5 billion.