[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"news-aggregator-south-korean-candidate-vows-tr20801963ff6-e713-7868-bf1d-c679cbf0a43e":3},{"id":4,"timestamp":5,"title":6,"content":7,"link":8,"preview":9,"tags":10,"predictedTags":11,"showTags":12,"source":13,"reactions":14,"selfReactions":15,"logo":16,"sourceId":17,"sourceUserId":9,"asset":18,"tagsCategories":19,"totalComments":20,"lang":21,"unique_views_count":22,"enrichStatus":18,"triageKind":9,"triageImportance":9,"expandEligible":9,"summarizeEligible":9,"eventEligible":9,"eventType":9,"eventAction":9},"south-korean-candidate-vows-tr20801963ff6-e713-7868-bf1d-c679cbf0a43e","1744828699000","South Korean Candidate Vows ‘Trump-Style’ Crypto Deregulation—Will 15M Users Put Him in Office?","\u003Cdiv>\u003Cdiv>\u003Cp>Key Takeaways:\u003C/p>\u003Cul>\u003Cli>\u003Cspan>South Korean presidential candidate Hong Joon-pyo promises to cut strict crypto rules.\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Friendly crypto regulations in the U.S. have propelled bank charter applications and job creation, which Hong hopes to replicate.\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Hong’s crypto regulation plans and ongoing AML policy-foreign investors discussions could spark growth for digital assets.\u003C/span>\u003C/li>\u003C/ul>\u003C/div>\u003C/div>\u003Cp>South Korean presidential candidate Hong Joon-pyo recently promised to ease crypto regulations, following the example set by Trump in the U.S.\u003C/p>\u003Cdiv>\u003Cp>SOUTH KOREAN CANDIDATE HONG JOON-PYO PLEDGES TRUMP-STYLE CRYPTO DEREGULATIONHong Joon-pyo, a presidential candidate from South Korea’s ruling People Power Party, has vowed to dismantle crypto regulations “to the extent seen under the Trump administration.” He aims to promote… \u003Ca href=\"https://t.co/c9Idpla8dc\">pic.twitter.com/c9Idpla8dc\u003C/a>\u003C/p>— Crypto Town Hall (@Crypto_TownHall) \u003Ca href=\"https://twitter.com/Crypto_TownHall/status/1912498714033467817?ref_src=twsrc%5Etfw\">April 16, 2025\u003C/a>\u003C/div>\u003Cp>He believes cutting red tape will unlock the potential of blockchain technology and support the nation’s economic growth and recovery.\u003C/p>\u003Cspan>Is Trump’s Crypto Regulations Becoming an Electoral Strategy in Asia?\u003C/span>\u003Cspan>\u003C/span>\u003Cp>Hong Joon-pyo, a leading candidate in the People Power Party’s presidential primary, unveiled his policy blueprint on April 16 at the Daeha Building in Yeouido, according to a local \u003Ca href=\"https://n.news.naver.com/mnews/article/001/0015334207?sid=100\">news report\u003C/a>. \u003C/p>\u003Cp>The candidate stated that, like the Trump administration in the U.S., he would follow a similar regulatory rollback to create a supportive environment for digital assets and blockchain development.\u003C/p>\u003Cp>Hong Joon-pyo is betting that the same formula could work in South Korea and also capture the enthusiasm of pro-crypto voters ahead of the Presidential election to be held on June 3, 2025.\u003C/p>\u003Cp>South Korea is a global crypto hotspot. With \u003Ca href=\"https://cryptonews.com/news/south-korea-crypto-investors-exceed-15-million/\">over 15 million crypto users\u003C/a> — many of them young and politically engaged — crypto policies are bound to be a key issue heading to the polls.\u003C/p>\u003Cp>Last year, during the parliamentary elections, both parties courted these young voters — many of whom are in their 20s and 30s — by making a series of promises, including tax delays.\u003C/p>\u003Cp>Just like in the U.S., where crypto PACs spent over $100 million to support candidates, South Korean voters are bound to shape policy debates and decide who wins power in Seoul.\u003C/p>\u003Cp>Hong’s attempt to mirror President Trump’s crypto strategy follows a wave of international developments that put pro-crypto policies in the spotlight.\u003C/p>\u003Cp>Trump’s administration replaced key regulators with more crypto-friendly figures. Mark T. Uyeda succeeded former SEC Chair Gary Gensler, and a new CFTC chair was appointed to reshape the crypto policy.\u003C/p>\u003Cp>In March, POTUS signed an executive order to create a \u003Ca href=\"https://www.whitehouse.gov/presidential-actions/2025/03/establishment-of-the-strategic-bitcoin-reserve-and-united-states-digital-asset-stockpile/\">Strategic Bitcoin Reserve and a Digital Asset Stockpile\u003C/a> that included Ethereum, Ripple, Solana, and Cardano.\u003C/p>\u003Cspan>50 Trillion Pledge: Hong’s Vision Extends to AI and Quantum Tech\u003C/span>\u003Cspan>\u003C/span>\u003Cp>Beyond crypto, Hong outlined five key economic strategies. \u003C/p>\u003Cp>These included plans for a public-private economic revival, super-gap technology-led growth, fairer distribution based on productivity, people-centered job creation and welfare, and responsible national debt management tied to economic growth.\u003C/p>\u003Cp>He pledged an investment of at least 50 trillion won over the next five years to back these goals. This funding would target the artificial intelligence and quantum technology sectors. \u003C/p>\u003Cp>Hong’s plans show the nation’s growing interest in blockchain and digital assets.\u003C/p>\u003Cp>Last August, the National Pension Service (NPS), one of the largest public pension funds in the world, \u003Ca href=\"https://cryptonews.com/news/south-korea-public-pension-fund-microstrategy-shares-q2/\">acquired 245,000 shares in Strategy (formerly MicroStrategy)\u003C/a>, valued at $33.75 million. \u003C/p>\u003Cp>The fund had earlier also \u003Ca href=\"https://cryptonews.com/news/south-koreas-pension-fund-bought-20-million-coinbase-stocks/\">bought over 280,000 shares in Coinbase\u003C/a>. These moves suggest that crypto is no longer fringe in South Korea. It’s becoming a central pillar of investment, strategy, and perhaps election politics.\u003C/p>\u003Cspan>Could Banking Alliances Spur Crypto Growth?\u003C/span>\u003Cspan>\u003C/span>\u003Cp>South Korea’s banks are also pushing for practical changes in how crypto services are delivered.\u003C/p>\u003Cp>Major financial institutions have asked lawmakers to relax current rules restricting \u003Ca href=\"https://cryptonews.com/news/south-korea-top-bankers-urge-lawmakers-to-ease-crypto-exchange-partnership-rules/\">crypto exchanges to exclusive partnerships with just one bank\u003C/a> because of the belief that this stifles competition.\u003C/p>\u003Cp>Banks argue that exclusivity has skewed the benefits, and a potential change would better serve institutional clients and offer regular users more options. \u003C/p>\u003Cp>Meanwhile, South Korea’s financial regulator is showing a willingness to revisit another key issue: \u003Ca href=\"https://cryptonews.com/news/south-korea-considers-allowing-foreign-crypto-investment-if-aml-rules-are-met/\">foreign investor access to the domestic crypto market\u003C/a>. Right now, non-residents are blocked due to strict know-your-customer (KYC) rules.\u003C/p>\u003Cp>One major roadblock is the requirement for users to link exchange accounts to locally registered bank accounts. \u003C/p>\u003Cp>However, Kim Sung-jin, who heads the virtual asset division at the Financial Services Commission (FSC), has recently voiced support for easing these restrictions. \u003C/p>\u003Cp>The post \u003Ca href=\"https://cryptonews.com/news/south-korean-presidential-candidate-promises-to-scrap-crypto-regulations-like-trumps-administration-report/\">South Korean Candidate Vows ‘Trump-Style’ Crypto Deregulation—Will 15M Users Put Him in Office?\u003C/a> appeared first on \u003Ca href=\"https://cryptonews.com\">Cryptonews\u003C/a>.\u003C/p>","https://cryptonews.com/news/south-korean-presidential-candidate-promises-to-scrap-crypto-regulations-like-trumps-administration-report/",null,"[\"Blockchain News\",\"Crypto Regulation News\",\"President Trump\",\"South Korea\"]","[\"Bitcoin\",\"BTC\",\"Vision\",\"Spark\",\"Reserve\",\"RSV\",\"Fringe\",\"Pillar\",\"PLR\",\"Mirror\",\"Blueprint\"]","[{\"img\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/coins-lib/full-library/color/BTC.png\",\"name\":\"BTC\"},{\"name\":\"Vision\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/blockchains/vision.png\"},{\"name\":\"Spark\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/protocols/spark.png\"},{\"img\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/coins-lib/full-library/color/RSV.png\",\"name\":\"RSV\"},{\"name\":\"Fringe\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/protocols/fringe.png\"},{\"img\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/coins-lib/full-library/color/PLR.png\",\"name\":\"PLR\"},{\"name\":\"Mirror\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/protocols/mirror.png\"},{\"name\":\"Blueprint\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/protocols/blueprint.png\"}]","208",[],[],"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/news-feeds/sources/crypto-news.png","Crypto News","","[\"Crypto\"]","0","EN","2"]