{"id":128732,"date":"2025-05-07T05:20:30","date_gmt":"2025-05-07T05:20:30","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=128732"},"modified":"2025-05-07T05:20:30","modified_gmt":"2025-05-07T05:20:30","slug":"south-korea-presidential-front-runner-pledges-to-approve-bitcoin-etfs","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=128732","title":{"rendered":"South Korea presidential front-runner pledges to approve Bitcoin ETFs"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsSouth Korea\u2019s Democratic Party leader Lee Jae-myung has reportedly become the latest presidential candidate to promise the approval of spot crypto exchange-traded funds (ETFs) and other crypto-friendly measures, should he be elected.<br \/>\nLee announced his crypto promises on May 6 as part of a broader initiative to provide more investment opportunities for Korea\u2019s youth, one of the main target demographics for the fast-approaching June 3 election.<br \/>\n\u201cI will create a safe investment environment so that young people can [build] assets and plan for the future,\u201d The Korea Economic Daily (KED) quoted Lee as saying in Korean.<br \/>\nHe also promised the legalization of spot crypto ETFs, lower transaction fees, and more consumer protection measures.<br \/>\nLee\u2019s Democratic Party of Korea is the favorite to win the presidential election with 42% support, according to a survey conducted by Korea\u2019s National Barometer Survey between April 24 and 30. Korea\u2019s acting president, Han Duck-soo, came in second at 13%.<br \/>\nThis is the first time Lee has mentioned crypto as part of his presidential campaign, KED noted.\u00a0<br \/>\nThe Democratic Party made similar promises in its 2024 general election campaign, including passing spot crypto ETF legalization. However, progress stalled, KED said.<br \/>\nSouth Korea\u2019s People Power Party makes similar promises<br \/>\nSouth Korea\u2019s ruling party, the People Power Party, also reportedly made crypto policy promises in late April, which included allowing spot crypto ETFs, dismantling Korea\u2019s controversial one-exchange-one-bank rule, and establishing a regulatory framework for stablecoins.<br \/>\nSource: CointelegraphThe one-exchange-one-bank rule in South Korea is a regulation that limits each crypto exchange to working with only one local bank. It is intended to prevent money laundering and strengthen transparency by ensuring that the identities of crypto investors can be verified when trading crypto.<br \/>\nSouth Korean industry officials estimate that 16 million or 31% of the country\u2019s 51.7 million people have access to a crypto account.<br \/>\nRelated: North Korean spy slips up, reveals ties in fake job interviewKim Moon-soo is running as the People Power Party\u2019s candidate \u2014 a party previously led by Yoon Suk Yeol, who was impeached after he declared martial law in December.<br \/>\nThe controversial measure triggered a considerable fall in Bitcoin (BTC), Ether (ETH), and other cryptocurrencies. However, most coins recovered when the martial law was lifted around six hours later.<br \/>\nKorea\u2019s Constitutional Court upheld the impeachment of Yoon in a unanimous 8\u20130 decision decision on April 4, effectively removing him from office.<br \/>\nMagazine: Crypto wanted to overthrow banks, now it\u2019s becoming them in stablecoin fight<a href=\"https:\/\/cointelegraph.com\/news\/south-korean-presidential-front-runner-pledges-approve-crypto-etfs?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsSouth Korea\u2019s Democratic Party leader Lee Jae-myung has reportedly become the latest presidential candidate to promise the approval of spot crypto exchange-traded funds (ETFs) and other crypto-friendly measures,&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128732"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128732"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128732\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128732"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}