South Korea held elections in which Lee Jae-myung, a candidate from the Democratic Party, won and plans to implement a series of reforms, including the introduction of cryptocurrency.
Election Results
Lee Jae-myung was elected president of South Korea after winning a snap election, securing over 49% of the vote. He defeated his opponent Kim Moon-soo, who garnered 41%. The elections held on June 3 saw a voter turnout of almost 80%, the highest since 1997.
Lee Jae-myung's Crypto Agenda
Lee Jae-myung advocates for the introduction of a won-backed stablecoin to enhance the country's financial sovereignty and stimulate innovation. He also supports the idea of allowing the national pension fund to invest in Bitcoin and launching Bitcoin ETFs.
California Moves to Accept Crypto Payments
California is on track to integrate cryptocurrency into its state operations. A bill approved by the Assembly allows payments in cryptocurrency for state services. If passed, California will become one of the first states to accept cryptocurrency in government payments.
Lee Jae-myung’s victory and California’s move towards integrating cryptocurrency into state operations highlight the growing importance of digital assets in global politics and economics.
