South Korea's presidential candidates are wooing crypto voters in hopes of securing an edge in the upcoming election. lavender_au reports
Seoul, South Korea's skyline Real policy details will come post-election once a new administration comes to power.
Real estate is the biggest issue on voters’ minds in South Korea now as young people under the age of 24of around KRW 2.6 million a month, face expensive Seoul rent and have no hope of buying an apartment. Many of them have turned to stocks and crypto. “They are incentivized to say more crypto-friendly statements or not say anything negative, as that might lose them votes from the young generation,” said Steve Lee, an investor at BlockTower Capital, a hedge fund focused on crypto asset and blockchain technology.
Jin Kang, head of legal at Hashed, said the lack of regulation is a “calculated risk” to make sure that the ruling party can attract voters with its proposal of a regulatory framework. Kang said that rescinding the notice won't be enough to attract companies to move back. He said only a “more comprehensive package” will get people to bring their crypto businesses back to South Korea, which might include tax incentives coupled with educational or job-related incentives and benefits for employing locals.
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