South Korea's Crypto Election: Candidates Court Millions with ETF Promises and Stablecoin Plans

Cryptocurrency policies have become central to South Korea's June 3, 2025, presidential election, with candidates vying for the support of approximately 15 million crypto investors. Key campaign promises include legalizing Bitcoin ETFs to attract institutional investment and increase market liquidity, and creating a won-backed stablecoin to reduce reliance on foreign stablecoins and retain national wealth within South Korea.

Kim Moon-soo is advocating for institutional investment in virtual assets to enhance market credibility and stability, while Lee Jae-Myung is promising to establish a digital asset monitoring system to safeguard investors and reduce trading costs . These proposals signify a potential shift from South Korea’s cautious regulatory stance, aiming to integrate crypto into the national economy and financial system.

The election follows the impeachment of former President Yoon Suk Yeol, adding urgency to policy innovation. The candidates' focus on crypto reflects the growing political importance of South Korea’s tech-savvy youth and large retail investor community, though critics warn about the macroeconomic risks associated with stablecoins