South Korea’s President Lee Jae-myung Advances Pro-Crypto Policies with Hashed Research CEO Kim Yong-beom as Chief Policy Officer
South Korea’s new president, Lee Jae-myung, is signaling significant changes for the nation’s cryptocurrency market by appointing Kim Yong-beom, CEO of Hashed Research and former Vice Minister of Economy and Finance, as Chief Policy Officer. This move reinforces Lee’s pro-crypto stance and commitment to regulatory reform. Key proposals include legalizing spot cryptocurrency ETFs, enabling institutional investors such as the national pension fund to participate in crypto markets, and promoting the development of a South Korean won-based stablecoin to address capital outflow concerns. The administration is closely watching U.S. crypto regulations, pointing to potential alignment with Western standards. These initiatives aim to increase market liquidity, enhance capital inflow, and provide better regulatory clarity. Major local exchanges like Upbit are likely to benefit, while smaller platforms may face compliance hurdles. Stricter controls on overseas exchanges are possible. The overall approach positions South Korea to attract global crypto investment and establish itself as an Asian digital asset hub. Traders should monitor upcoming policy developments on stablecoins and digital assets, as these will influence trading sentiment and market opportunities.
Bullish
The appointment of Kim Yong-beom as Chief Policy Officer and President Lee Jae-myung’s progressive stance on cryptocurrency signal a stronger institutional framework for South Korea’s digital asset market. The promised legalization of spot cryptocurrency ETFs, opportunities for institutional investors, and a focus on Korean won-based stablecoins indicate greater market liquidity and capital inflow potential. These measures could boost trader confidence, increase participation, and attract international crypto capital, particularly as regulatory clarity improves and Korea positions itself as a regional crypto hub. In the short term, policy announcements may spur positive sentiment and speculative trading. In the long term, successful implementation could drive sustained market growth and strengthen the role of compliant local exchanges. Potential risks include higher compliance burdens for smaller platforms and tighter restrictions on overseas exchanges, but the overall trajectory remains bullish for market participants.