South Korea Elects Pro-Crypto President Lee Jae Myung—New Crypto Regulation Coming!

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On June 4, 2025, South Korea elected Lee Jae Myung—a known pro-crypto member of the National Assembly—as the new President, securing 49.42% of the vote. Lee’s victory marks a turning point for South Korea’s financial landscape, with bold promises for economic renewal and a digital asset revolution.

Interestingly, his rival from the People’s Power Party was also in favor of crypto-friendly regulations, reflecting how important cryptocurrency has become for South Korea’s 18 million crypto users.

Lee Jae Myung’s Bold Pro-Crypto Agenda

1. Pension Fund Investment in Bitcoin
Lee announced that South Korea’s $884 billion National Pension Fund will be allowed to invest in Bitcoin and other cryptocurrencies. This move aims to legitimize digital assets as part of the nation’s long-term investment strategy.

2. Safer Crypto Space for the Youth
During an event in North Chungcheong Province, Lee committed to building a safer and more transparent crypto environment, focusing especially on helping young investors build digital wealth and financial literacy.

3. Spot Bitcoin ETF Institution
Lee plans to establish a government-backed institution to manage Spot Bitcoin ETFs, along with an integrated crypto monitoring system to boost transparency and oversight in the digital asset market.

4. Reducing Foreign Stablecoin Dependency
To tackle the growing reliance on stablecoins like USDT and USDC, Lee proposes launching a won-backed stablecoin. This move aims to prevent ₩56.8 trillion in capital outflows and reinforce financial sovereignty.

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South Korea’s Push Toward Modern Financial Reform

Following the rollout of South Korea’s first digital asset framework in July 2024, Lee’s leadership will oversee the launch of Phase 2, focusing on improved regulation and trust-building among South Koreans.

“I will do my utmost to fulfill the great responsibility and mission entrusted to me,” Lee said after his win, promising full commitment to digital innovation.

Lee has also formed a Digital Asset Committee, which is expected to be placed directly under the President’s office to fast-track implementation, ensure legislative clarity, and lead fintech innovation.

Conclusion

With Lee Jae Myung taking charge, South Korea is entering a new era of pro-crypto policymaking. His administration is expected to introduce transparent regulations, Bitcoin-friendly reforms, and youth-focused investment policies—laying the foundation for a secure and innovative crypto economy. Until now, crypto laws in South Korea have been vague, but Lee promises to turn that around with structured, investor-friendly reforms.