South Korean Presidential Election Pledge to Implement Cryptocurrency Spot ETF Makes It More Likely

In the South Korean presidential election to be held on June 3rd, both the ruling and opposition parties have pledged to approve cryptocurrency spot ETFs (exchange-traded funds), and expectations are rising for their introduction.

The presidential election following the impeachment of former President Yoon Seok-yeol closed candidate registration on the 11th, and election campaigning began on the 12th. Investment in cryptocurrency is popular in South Korea, especially among young people, and according to the Korea Economic Daily, as of November 2024, approximately 15.6 million people (about 30% of the population) are trading cryptocurrency.

In this election, too, emphasis is placed on gaining support from cryptocurrency investors, and the conservative ruling party "People Power Party"...