The upcoming South Korean presidential election is shaping up to be a significant moment for the crypto industry. With both frontrunners, Lee Jae-myung and Kim Moon-soo, emphasizing the need for digital asset reforms, market players are expecting substantial change. These candidates propose legalizing spot crypto ETFs and developing a won-pegged stablecoin, signaling a potential shift in South Korea’s regulatory landscape. 18 million participants actively engage in the country’s extensive crypto market, which could see significant growth if regulations ease. Lee Jae-myung is particularly vocal about his proposals to promote regulated investment options. This has already seen positive feedback from investors and the Financial Services Commission (FSC), who are eager to consider ETF approvals. These proposed reforms align with similar approaches in other countries, such as the US, where legalization of spot crypto ETFs led to $43 billion in net inflows. South Korea’s move could have a significant impact on its crypto market, which is already worth an estimated $2.10 trillion, dominated by Bitcoin at 63.58%. This potential shift could be further fueled by Coincu’s research, suggesting the country’s influence in the global crypto sector might rise considerably.