South Korean Presidential Frontrunner Promises to Approve Bitcoin ETF

In Brief:

Lee Jae-myung, a South Korean presidential candidate, promises to legalize spot Bitcoin ETFs and reduce trading fees.

The proposal aims to provide more investment opportunities for young Koreans as part of his election campaign.

Lee Jae-myung, leader of South Korea's Democratic Party, has promised to approve spot cryptocurrency ETFs if he is elected president in the upcoming June 3 elections. The promise is part of his broader initiative to create a more crypto-friendly investment environment for South Korean youth, who have become a major focus for his campaign.

In his announcement on May 6, Lee emphasized the importance of providing safe and accessible investment opportunities for younger generations to help them accumulate assets and secure their financial futures. One of his key proposals is the legalization of spot cryptocurrency ETFs, which would allow greater access to digital assets through regulated financial products.

In addition to ETFs, Lee Jae-myung has also pledged to reduce trading fees on crypto exchanges and implement enhanced consumer protection measures. These promises reflect his commitment to modernizing South Korea's financial landscape and integrating crypto into mainstream investment strategies.

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