South Korea Presidential Election Looms, 16 Million Crypto Voters to Shape Crucial Race

BlockBeats News, May 4th, According to the Korean media Point Daily, with the upcoming South Korean presidential election on June 3rd, the ruling party and the opposition party have reached a consensus on traditional investment-related bills. Both are vying for the votes of cryptocurrency investors, which will be crucial to winning the presidential election. The estimated number of domestic cryptocurrency investors in South Korea is 16 million, accounting for about 36% of the number of voters in the 22nd general election held on April 10th last year (approximately 44.25 million), with a market size comparable to the market capitalization of the South Korean KOSPI.

Various party candidates have put forward cryptocurrency-related policies. The Democratic Party of Korea has promised to promote the Digital Asset Basic Law, while the People Power Party has proposed seven major policies such as relaxing institutional investment restrictions and allowing ETF trading. Industry insiders say that due to investors' strong demand for policy relaxation, the voting orientation of cryptocurrency investors will have a significant impact on the election.