South Korea’s Presidential Hopeful Lee Jae-Myung Bets Big on Crypto ETFs—Wall Street’s Next Fee Machine?

With elections looming, candidate Lee Jae-Myung throws a bone to crypto traders—pledging to greenlight crypto ETFs if elected. The move could open Seoul’s $4.5T pension pot to Bitcoin speculation. Because what’s a modern campaign without a blockchain buzzword?

Regulators currently treat crypto like a back-alley poker game. Lee’s plan? Turn it into a casino—complete with SEC-style oversight and those sweet, sweet management fees. Traders cheer; bankers sharpen their spreadsheets.

One problem: Korea’s ‘Kimchi Premium’ already makes crypto prices swing like a K-pop dance routine. Add ETFs to the mix, and volatility gets a turbocharge. But hey—at least it’s not another stablecoin collapse.

Presidential front-runner Lee Jae-myung pledges to greenlight spot #Bitcoin ETFs if elected.

Get ready for a new era of secure, accessible trading on platforms like @XBITDEX!pic.twitter.com/gGkpRKngR7

— XBIT (@XBITDEX) May 7, 2025

: 20+ Next Crypto to Explode in 2025

Crypto Trading Continues To Surge In South Korea

In the meantime, crypto trading has surged, exceeding the South Korean stock market activity, where digital assets reached a market capitalisation of over 100 trillion won ($74.8 billion). Moreover, global political shifts such as the election of Donald Trump as President of the US have influenced a fivefold increase in trading volume.

The country has delayed the 20% capital gains tax on crypto till 2027, citing enforcement challenges. The government is cracking down on market manipulation by enforcing crypto companies to comply with the Virtual Asset User Protection Act (VAUPA), which mandates stricter oversight of digital assets.

Despite regulatory scrutiny, South Korea remains one of the world’s most active crypto markets today. Altcoins such as XRP are especially popular in the region, showcasing South Korea’s preference for a fast and cost-effective transaction solution.

Key Takeaways

• Lee Jae-myung, the Democratic Party of Korea presidential candidate, has pledged the introduction of a virtual asset spot ETFs. 

• “I will create a safe investment environment so that young people can form assets and plan for the future,” said Lee Jae-myung.