South Korean presidential candidate Han pushes for Bitcoin ETF & crypto deregulation

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Is South Korea Ready to Ride the Crypto Wave? 🌊💰

  • South Korean presidential candidate Han Dong-hoon advocated crypto deregulation and Bitcoin ETF approvals.
  • Asia strengthens crypto adoption, with Hong Kong expanding regulations and Japan proposing a Bitcoin reserve.

Ah, the world of cryptocurrencies! It’s evolving faster than a cat meme going viral. Nations that once turned their backs on digital assets are now doing a double-take, like a kid spotting ice cream on a hot day. 🍩

The United States, that great land of opportunity, has decided to play nice with crypto regulations, setting a trend that others are now scrambling to follow. Who knew the land of the free would embrace the land of the Bitcoin?

In Asia, South Korea, a financial hub that’s been more conservative than your grandma at a rave, is finally loosening its grip as political leaders start to see the light—or maybe just the glow of a Bitcoin wallet.

Han Dong-hoon’s crypto boost

Enter Han Dong-hoon, the man of the hour in the upcoming South Korean presidential elections, waving the crypto flag like a true believer. He’s all about deregulating crypto and giving Bitcoin [BTC] ETFs the green light.

In a recent tĂȘte-Ă -tĂȘte, Han laid out his grand vision for a crypto-friendly South Korea, hinting at a break from the past that was more restrictive than a diet soda at a barbecue.

Han boldly declared,

“Cryptocurrency regulations should be relaxed. South Korea should be at the center [of crypto innovation].”

But hold your horses! South Korea’s political scene is like a soap opera, with an impending presidential election that could flip the script on the nation’s crypto policies.

As the impeachment drama unfolds for President Yoon Suk-yeol, the country is bracing for a leadership shake-up that could make or break its crypto future.

Han Dong-hoon, a shining star in the ruling People Power Party (PPP), is courting the youth with his pro-crypto charm. Who wouldn’t want to be the cool candidate in a world where Bitcoin is the new black?

Neither the PPP nor the Democratic Party has put forth a candidate yet, thanks to ongoing legal squabbles. Rumor has it that Han might face off against Democratic Party leader Lee Jae-myung in a showdown that’s hotter than a summer day in Seoul.

Will Bitcoin ETF and deregulation transform South Korea’s economy?

In the interview, Han emphasized that cryptocurrency is “not something governments can avoid simply because they don’t want to address it.”

He went on to say,

“We need to ease many [crypto-related] regulations, such as those on [Bitcoin] spot ETFs. [
] Introducing [Bitcoin] ETFs would also have some effect on institutional adoption. I believe corporations should also be allowed to purchase [crypto].”

Han warned that excessive regulation of cryptocurrency is “undermining the power of digital literacy, which is a true treasure of this country.”

He passionately argued for South Korea to become a cryptocurrency haven, insisting, “Those who want to regulate crypto do not understand its essence.”

And just when you thought he was done, Han cautioned,

” If [regulations are] incorrectly prepared, it could cause capital outflow, with money leaving the country. [We must not] miss our chance to seize the global leadership [of the crypto sector].”

What’s more?

Meanwhile, Hong Kong is doubling down on its crypto commitment, showing regulatory support that’s stronger than your morning coffee. ☕

Japan is also getting in on the action with a proposal for a National Bitcoin Reserve, aiming to ease crypto taxation laws. Because who doesn’t love a good tax break?

As Asia’s crypto landscape shifts, South Korea seems poised to follow Japan’s lead in adopting Bitcoin ETFs. Reports suggest that if Tokyo gives the thumbs up, Seoul might just follow suit. If Han Dong-hoon’s vision takes flight, South Korea could become a heavyweight in the global crypto arena. đŸ„Š

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2025-03-11 05:17