A presidential candidate from a South Korean right-wing party has promised to review local regulations on cryptocurrencies, local news agency Yonhap reports.
To develop Block and virtual assets as an industry, I will reform the rules just like the Trump administration in the United States, said Hong Jun-pyo, presidential candidate for the People’s Party of Power.
Hong, who served as mayor of Daegu until last week, said he would work to implement the technology. Block to the public sector and administrative services.
The politician, who has 30 years of experience, has previously called on the South Korean government to adopt more crypto-friendly policies and regulations.
In 2021, he openly criticized the government’s decision to tax cryptocurrency, calling the move regressive and stifling innovation.
South Korea‘s 20th President Yun Seok-yeol was removed from office on April 4 after the Constitutional Court unanimously upheld a National Assembly vote to impeach him over his controversial declaration of martial law on December 3, 2024.
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