PANews reported on May 4 that according to the Korean media Point Daily, South Korea's presidential election is imminent on June 3. The ruling party and the opposition party agree on the bill related to traditional investment. Winning the votes of virtual asset investors will be crucial to winning the presidential election. The number of virtual asset investors in South Korea is estimated to be 16 million, accounting for about 36% of the number of voters (about 44.25 million) in the 22nd general election held on April 10 last year.
Candidates from various parties have proposed policies related to virtual assets. The Democratic Party of Korea has pledged to promote the Basic Law on Digital Assets, and the People's Power Party has proposed seven major policies, including relaxing restrictions on institutional investment and allowing ETF trading. Industry insiders said that due to the strong demand of investors for policy relaxation, the voting orientation of virtual asset investors will have an important impact on the election.
