South Korean Crypto Industry Advances as Presidential Candidates Embrace Digital Assets

South Korea’s presidential election has become a watershed moment for cryptocurrency regulation, with both major candidates committing to progressive policies. The nation’s 18 million active crypto participants—and trading volumes that occasionally surpass traditional stock markets—have forced digital assets onto the political agenda.

Bank of Korea data reveals citizens held $74.5 billion in crypto assets late last year, underscoring the sector’s economic significance. Candidates Lee Jae-myung and Kim Moon-soo now compete to outpace each other with proposals ranging from spot ETF legalization to pension fund crypto allocations.

Lee’s platform includes modernizing financial infrastructure through won-pegged stablecoins, while both campaigns recognize the need to align South Korea’s regulatory framework with its thriving digital asset ecosystem. The election outcome may determine whether Seoul becomes Asia’s next crypto hub.