According to Mars Finance, Lee Jae-myung of the left-wing party was elected as the new president of South Korea with 49.42% of the votes, defeating his right-wing opponent Kim Moon-soo's 41.15%. Lee Jae-myung promised to vigorously develop South Korea's cryptocurrency industry, with key policies including: allowing local spot cryptocurrency ETFs, establishing a Korean won stablecoin market, improving digital asset regulatory frameworks, and reducing blockchain regulations in specific areas to promote innovation. South Korea is one of the world's largest cryptocurrency markets, with 9.7 million trading users, representing about 20% of the total population. Unlike the unfulfilled crypto-friendly promises of the previous president Yoon Suk-yeol, Lee Jae-myung is expected to advance his cryptocurrency policies against the backdrop of a changing attitude from the Financial Services Commission.
New South Korean President Lee Jae-myung Promises to Promote Crypto ETFs and Won Stablecoins
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