South Korea's Democratic Party leader Lee Jae-myung has pledged to create a more crypto-friendly environment by approving spot crypto exchange-traded funds (ETFs) if he wins the presidential election on June 3. His promises, announced on May 6, aim to enhance investment opportunities for the youth, who are a key demographic for his campaign. Lee's election initiative includes lowering transaction fees and improving consumer protection in the cryptocurrency market. His party currently holds 42% support ahead of the elections according to a recent survey. This is not the first time the Democratic Party has made crypto promises; similar commitments were included in their 2024 general election campaign, although legislative progress has been slow. The ruling People Power Party has also made comparable promises, seeking to dismantle restrictive regulations like the one-exchange-one-bank rule that limits exchanges to partnerships with a single bank. Approximately 31% of South Korea's population has access to a cryptocurrency account, indicating a substantial interest in digital assets.

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