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06/02/2025

South Korea: Crypto Community Wins No Matter Who Takes the Presidency

Election date: June 3, 2025 As South Korea heads into a snap presidential election to replace Yoon Suk-yeol — who was impeached and removed from office after his failed attempt to declare martial law last December — the country's crypto market is at a major turning point. Both leading candidates are sending a clear message: pro-crypto. That means regardless of who wins, South Korea's crypto community stands to benefit. Two Candidates, One Direction

South Korea: Crypto Community Wins No Matter Who Takes the Presidency


Election date: June 3, 2025

As South Korea heads into a snap presidential election to replace Yoon Suk-yeol — who was impeached and removed from office after his failed attempt to declare martial law last December — the country's crypto market is at a major turning point.

Both leading candidates are sending a clear message: pro-crypto. That means regardless of who wins, South Korea's crypto community stands to benefit.

Two Candidates, One Direction

  • Lee Jae-myung (Democratic Party, center-left) is leading in the polls at 49% approval. He has pledged to:
    • Legalize spot Bitcoin ETFs
    • Open the door for the $884 billion national pension fund to invest in crypto
    • Issue a won-pegged stablecoin to stem capital outflows
    • Ease regulations requiring exchanges to partner with licensed banks
  • Kim Moon-soo (People Power Party, conservative) — Lee's main rival — holds similar views, representing a rare instance of bipartisan consensus on digital asset policy. He not only supports crypto ETFs but has also pledged to reduce regulatory barriers and drive broader adoption of crypto throughout the economy.

A Breakout Moment for South Korea's Crypto Market

South Korea is already one of the most active crypto markets in the world, with over 16 million users and daily trading volumes on domestic exchanges that routinely outpace the country's major stock indices.

Over the past year, South Korea has enforced strict crypto regulations — including the possibility of serious criminal penalties for non-compliant exchanges. But growing demand for a clear, business-friendly regulatory framework is driving change.

In May 2025, South Korea's Financial Services Commission unveiled a new set of rules establishing tighter listing standards and guidelines for nonprofit token issuances. Separately, the Democratic Party launched a Digital Asset Committee to shape policy and support the development of the blockchain industry.

A Bright Future for Korean Web3

With both candidates committed to supporting crypto, analysts believe South Korea will continue to play a leading role in the global Web3 wave. Domestic investors can expect a more permissive regulatory environment that paves the way for products like spot Bitcoin ETFs, homegrown stablecoins, and deeper crypto integration into traditional finance.

"No matter who wins, crypto in South Korea wins big." — Simon Seojoon Kim, CEO, Hashed Ventures