After promising a fleet of pro-crypto policies during his campaign to South Korea’s opposition leader Lee J-Mung, a Snap has been sworn in as President after a decisive victory in the election.
Lee claimed victory in the June 3 election held after six months after the previous leader of the country, Yun Suk-Yool, declared martial law and thrown the nation into political chaos.
According to the National Election Commission, 99% of the votes were counted on June 4, Lee of the Center-Loft Democratic Party received more than 49% of the votes against 41% of rival Conservative People Party candidate Kim Moon Su. data,
Roots Informed About 80% 44.4 million eligible voters of South Korea have cast their ballots in the highest polling for the presidential election since 1997.
Denis Porter, founder of Satoshi Action Fund, who was in South Korea on election day, Said The voting figure was “wild”, while Li has committed to allow South Korea’s $ 884 billion national pension fund to invest in bitcoins (BTC) And also promised to allow crypto and launch bitcoin exchange traded funds (ETF).
Lee also has an ambition to launch a Korean win-supported stabelcoin to modernize the country’s financial system and stem capital outflow.
He said, “We need to set up a living-supported stabechoin market to prevent national funds from leaking abroad,” he said during a policy discussion in May.
Kim also launched a campaign, which supported the launch of Spot Crypto ETF and promised to reduce the rules and expand Crypto.
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Bitcoin prices won 149,000 ($ 108,480) on the country’s leading exchanges, Bithamb and upbeat, as so -called Kimchi premium The asset trading was seen about 2% more than the global exchanges, where it was at the top of about $ 106,600 before retreating slightly back.
Lee also to deal with policy decisions
Lee is taking over as South Korea, which faces important challenges, including economic conflict with increasing cost, business talks with the US and regional geopolitical stresses.
It is unclear how much he would give priority to his crypto-related promises, but in addressing the crowd of supporters in the country’s capital Seoul, Lee promised to “work” and to ensure that the military coup is a matter of the past.
Lee has promised to focus on economic reforms through increased investment in Artificial Intelligence and Defense, to show the prosecution system, and introduce social changes, which includes the week of four and a half days.
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