Market News

South Korea's New President Lee Jae Myung Sets the Stage for Crypto Revolution

On June 4, 2025, South Korea elected Lee Jae Myung as its new President, marking a significant shift towards pro-crypto policies.

Lee's victory, with 49.42% of the vote, is expected to revitalize the country's financial landscape amid rising enthusiasm for digital assets.

He has proposed allowing the $884 billion National Pension Fund to invest in Bitcoin and other cryptocurrencies, legitimizing digital assets as key investment vehicles.

Additionally, Lee aims to create a safer crypto environment by focusing on increasing financial literacy among young investors and enabling them to navigate digital wealth.

A notable aspect of his agenda is the establishment of a government-backed institution to manage Spot Bitcoin ETFs, enhancing oversight and transparency in the market.

To address capital outflows and bolster financial sovereignty, Lee proposed the introduction of a won-backed stablecoin, reducing dependence on foreign currencies.

His administration plans to implement the second phase of South Korea's digital asset regulations, further clarifying the legal framework for crypto investments.

Lee's proactive approach includes forming a Digital Asset Committee directly under the President's office to expedite fintech innovations and legislative clarity.

With the crypto landscape in South Korea poised for transformation, Lee Jae Myung's leadership heralds a new era of investor-friendly regulations and reforms.

As the nation embraces these changes, stakeholders await the concrete legislative actions Lee has pledged to undertake in support of a flourishing crypto economy.