Odds for South Korea Crypo Reform Rise as Lee Jae-Myung Wins Presidency
Lee Jae-myung has been elected President of South Korea, winning 49.42% of the vote in a snap election with a historic 79.4% voter turnout. The election followed the impeachment of former president Yoon Suk-yeol, who declared martial law. Lee aims to reform the crypto landscape by legalizing spot Bitcoin ETFs and launching a won-pegged stablecoin to curb capital flight. Analysts suggest the likelihood of ETF approval has increased but caution that stablecoin initiatives require careful regulatory consideration. In Q1 2025, South Korean exchanges moved $40.6 billion in crypto abroad, raising concerns about capital outflows. Lee's economic policy will focus on AI, semiconductors, and defense technology, alongside advocating for a four-and-a-half-day workweek and expanded support for small businesses and elderly care. His full inauguration is set for July 17.
