South Korean presidential candidates court crypto investors

With around 16 million cryptocurrency investors representing 36% of the South Korea voting population, presidential candidates aggressively court the cryptographic community before the June 3 elections.

According to a Daily point report, the political significance of cryptographic voters has developed while Bitcoin market capitalization in Korea now exceeds 2,600 won billions. This competed with the combined value of companies listed by Kospi.

As Daily point notesThese 16 million investors represent a substantial part of the approximately 44.25 million eligible voters in the country of previous general elections.

The big parties use specific strategies for crypto to attract these voters. The Democratic Party brought Professor Kim Yong-Jin from the University of Sogang, an expert in securities, in his campaign team. The mining representative Min Byeong-Deok of the same party has introduced a basic bill on digital assets which includes provisions for an authorization system of Stablecoin linked to a call for tenders.

The people Power Party, which confirmed its candidate on June 3, shared seven major initiatives related to cryptography. This includes the abolition of the restrictive system to an exchange bench, institutionalizing virtual asset trading for companies, allowing the ETF trade in the year and the establishment of South Korea as a global virtual asset center.

The candidate for people Power Party, Kim Moon-Soo, specifically addressed the frustration of investors. He said that around 16 million people, or a third of the population, participate in the virtual asset market, but investors of virtual assets are left without even minimum protective measures.

Separately, Joseilbo said the Financial Services Commission has announced that non-profit organizations and virtual asset exchanges would be authorized to sell their virtual assets from June, provided that they establish internal examination mechanisms and strengthen anti-flowage protocols.