South Korea presidential front-runner pledges to approve Bitcoin ETFs

Korean presidential candidate Lee Jae-myung has vowed to make Korea more crypto-friendly and allow spot crypto ETFs if elected next month.

South Korea’s Democratic Party leader Lee Jae-myung has reportedly become the latest presidential candidate to promise the approval of spot crypto exchange-traded funds (ETFs) and other crypto-friendly measures, should he be elected.

Lee announced his crypto promises on May 6 as part of a broader initiative to provide more investment opportunities for Korea’s youth, one of the main target demographics for the fast-approaching June 3 election.

“I will create a safe investment environment so that young people can [build] assets and plan for the future,” The Korea Economic Daily (KED) quoted Lee as saying in Korean.