Presidential candidate in South Korea wants to promote crypt “as much as Trump”

By Hannah Pérez

Hong Joon-Pyo promises in South Korea reflect the global change that Trump has motivated after his pro-descriptomoned ads. The presidential elections in Korea are held in June.

***

• The presidential candidate of South Korea, Hong Joon-Pyo, speaks in favor of Crypt.
• Promises to deregulate the industry and encourage investment in digital assets if elected.
• It aims to reform the crypto regulations “as much as Trump in the United States.”
• South Korea celebrates presidential elections in June.

---

A candidate for the presidency of South Korea has apparently promised regulatory changes that are aligned with the friendly position of the Donald Trump administration in the United States.

According to a report from the local news media Yonhapwhich was collected by several newspapers in English, the main presidential candidate of the ruler National Party of Popular Power of South Korea, Hong Joon-Pyo, promised to renew local regulations on Blockchain and cryptocurrencies, if elected.

Speaking during a policy event in Seoul on Wednesday, Hong hinted that he would pursue more friendly policies with cryptocurrencies and improve the investment environment of this kind of assets, partly following the example of the president of the United States.

“To promote block chain and virtual assets as an industry, I will reform regulations as well as the Trump administration in the United States“said Hong, according to the report cited by The Block.

Hong, who served as mayor of the city of Daegu until last week, added that he would work to incorporate technology Blockchain in the public sector and administrative services, possibly in an effort to guarantee greater transparency.

Among the commitments, the candidate announced 27 promises centered on the growth of the private sector, including the main commitments with future industries such as artificial intelligence (AI), quantum technology and superconductors, As part of his initiative of “Growth driven by disruptive technology” According to reports.

In this line of ideas, Hong expressed his intention to invest at least 50 billion Korean Wones (USD $ 35.1 billion) for five years for the research and development of AI, quantum technology and superconductors at room temperature.

Candidate supports crypto deregulation

Hong’s pro-writing vision distinguishes it from the other seven presidency candidates, while aligning with the country’s growing interest in Blockchain and cryptocurrencies.

The South Korean government has been contemplating this year to introduce important changes in what has been its strict approach to cryptocurrencies, to allow local companies and corporations to invest in this type of assets.

Hong, with almost 30 years of experience in the political sphere, had previously urged the Government of South Korea to adopt more friendly policies and regulations on digital currencies, as the coverage recalls.

In 2021, the politician openly criticized the government’s decision to tax the cryptocurrency, labeling the movement as a retroactive and urging the establishment of legal foundations to institutionalize emerging technologies, according to local news.

Crypt attracts attention after Trump’s posture

Recent Hong comments reflect the broader interest of nations to adapt to changes and move towards financial technology innovation following Trump’s position to embrace cryptocurrencies in the United States.

Trump has signed two executive orders on cryptocurrencies since he returned to the White House for his second term in January. One seeks, among other things, the creation of clearer rules for industry and promotes the use of cryptocurrencies, especially stablecoins. The second orders the establishment of a national strategic reserve of Bitcoin.

Various countries such as the Czech Republic, Russia, Brazil, Japan, Chile, as well as various US states, have discussed the possibility of incorporating Bitcoin To his reservations from Trump’s call, an idea that South Korea has ruled out for now.

Originally scheduled for March 3, 2027, the presidential elections in South Korea were ahead of June 3 of this year after the political trial and the dismissal of Yoon Suk Yeol, promoted by his controversial declaration of martial law in December.

---

Hannah Estefanía Pérez / Diariobitcoin

WARNING: Diariobitcoin offers informative and educational content on various topics, including cryptocurrencies, AI, technology and regulations. We do not provide financial advice. Cryptactive investments are high risk and may not be adequate for all. Investigate, consult an expert and verify the applicable legislation before investing. I could lose all its capital.