South Korea has had a long history of imposing strict cryptocurrency-related regulations. With the upcoming presidential elections in March, however, the two most-likely candidates have displayed a very pro-crypto stance, which is considered to be one of the more-significant methods of swaying the younger generations to vote for them.
That being said, Lee Jae-myung, one of the two likely-to-win candidates, has reiterated his positive feeling towards cryptocurrencies in a repeated manner.
Initially bringing up the idea of Korea issuing a national cryptocurrency of its own, Mr. Jae-myung has recently doubled-down on his sentiments towards the crypto industry.
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In a discussion with some university students, presidential nominee Lee Jae-myung explained how he thinks that “cryptocurrency is a very positive thing”, and how it “cannot be denied that virtual currency is a means of trading and investment”.
Lee Jae-myung belongs to the currently-ruling Democratic Party. However, his main opponent - Yoon Seok-yeol from the opposing People’s Power Party - has also led voters to believe that he’d pull back the harsh crypto regulations imposed by the current president, Moon Jae-in.