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The leading candidate in the South Korean presidential election promises to approve a Bitcoin ETF.
According to Mars Finance, South Korean Democratic Party leader Lee Jae-myung has become the latest presidential candidate to promise that if elected, he will approve Spot Crypto Assets exchange-traded funds (ETFs) and other crypto-friendly measures. Lee Jae-myung announced his cryptocurrency commitment on May 6 as part of a broader initiative to provide more investment opportunities for young people, who are one of the main target demographics in the upcoming June 3 elections. The Korea Economic Daily (KED) quoted Lee Jae-myung as saying in Korean: "I will create a safe investment environment so that young people can [accumulate] assets and plan for the future." He also promised to legalize Spot Crypto Assets ETFs, drop trading fees, and take more consumer protection measures.