• Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer
Saturday, February 4, 2023
Jefferson County News Online
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
No Result
View All Result
Home Technology Crytpocurrency

Crypto Vote Could Be Key As South Korea Chooses Its Next President – Cryptonews

crypto-vote-could-be-key-as-south-korea-chooses-its-next-president-–-cryptonews
Share on FacebookShare on Twitter
webp net resizeimage
Source: Adobe/AddMeshCube

South Korea goes to the polls on March 9 to elect its next President – and crypto is likely to play a major role in determining the outcome.

After a tense and bitter campaigning period, the former prosecutor-general Yoon Suk-yeol, of the main opposition People’s Power Party is hoping to dislodge the ruling Democratic Party. The latter’s candidate is Lee Jae-myung, the 57-year-old former governor of Gyeonggi Province, South Korea’s richest and most populous region.

Both men, as reported, have attempted to outdo one another with increasingly pro-crypto manifesto promises, all of which would represent a major departure from the more crypto-skeptic policies of the incumbent President Moon Jae-in administration.

Under Moon, initial coin offerings (ICOs) in all their forms were outlawed, with play-to-earn (P2E) crypto gaming also severely restricted. And crypto exchanges and wallet providers have been forced to abide by one of the strictest sets of regulatory protocols in the world.

But all the while, the popularity of crypto has blossomed in South Korea, with many young people flocking to bitcoin (BTC) and other cryptoassets. A rare joint-effort initiative from Lee and Yoon saw the government’s much-maligned crypto tax law delayed by a year in parliament.

Both sides have been attempting to woo younger voters with pro-crypto policies. For Yoon, pulling the youth vote away from Lee would likely help him win ground in the capital Seoul, which will be a key battlefield in tomorrow’s vote.

According to the latest Real Meter opinion polls, Yoon has opened up a gap of almost 5% on his rival, with 45% stating they would vote for the People’s Power candidate. Just over 40% said they would vote in favor of Lee. But an unexpected kingmaker may have emerged in the form of Ahn Chul-soo, a tech pioneer standing for the smaller opposition People Party. Ahn commanded some 7% of support in the same poll, but has since dropped out of the race – and urged his supporters to vote for Yoon.

But a February poll from the same firm predicted a much closer picture, with Yoon a single point ahead. Earlier polls from January had Lee very slightly ahead.

Here are a few of the two candidates’ crypto-related pledges:

Lee has:

  • proposed an annual universal basic income (UBI) of USD 800
  • also stated that he is “considering” launching a government-led cryptoasset that would be airdropped to citizens – possibly as a means of distributing the UBI
  • spoken of creating an international crypto “hub” using pro-business methods
  • promised to “review” the ICO ban
  • pledged to consider allowing the issuance of security tokens, particularly for small and medium-sized venture companies
  • pledged to create tax parity with stock exchange traders’ limits on tax-free trading

Yoon, meanwhile, has:

  • also promised to “review” the ICO ban
  • said he will “actively create an environment where young people can invest [in crypto] with confidence.”
  • said he will create what he calls the Digital Industry Promotion Agency, which will support the crypto industry and form policy to regulate cryptoassets and non-fungible tokens (NFTs)
  • claimed he will look into permitting firms to launch initial exchange offerings (IEOs)

     

_____

Learn more: 

– French Presidential Candidate Pushes For Tax Reform On Crypto, NFTs

– S Korean Presidential Candidates Manifestos Issued as NFTs; Crypto Enters National Statistics

– Team Proof-of-Work Educates Lawmakers at Bitcoin Mining Hearing in US

Jefferson County News Online

© 2021 Jefferson COunty News Online

Navigate Site

  • Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer

Follow Us

No Result
View All Result
  • Home
  • DMCA Policy
  • Medical Disclaimer
  • Privacy Policy
  • Disclosure
  • CCPA
  • Terms of Use

© 2021 Jefferson COunty News Online

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT