In the run-up to April’s general election in South Korea, pro-crypto policies are being promoted by both the ruling and opposition parties.
These election promises may favorably impact the global Bitcoin market because South Korea is well-known for its active cryptocurrency trading environment.
Several local sources claim that the People Power Party in power has committed to investigating the viability of spot Bitcoin exchange-traded funds. The party has declared its intention to give regulatory framework establishment precedence over taxation, and it has stated intentions to form a committee to promote digital assets that would be tasked with suggesting laws and enforcement strategies.
A suggestion to postpone the imposition of taxes on Bitcoin revenues is also included in the plan. The original proposal to tax digital asset earnings—including gains from their sale or loan—had been pushed back from 2023 to 2025.
The party’s most recent campaign promise calls for a longer delay—possibly until 2027. According to additional local sources, the Democratic Party—the primary opposition party—has also expressed support for permitting investments in spot Bitcoin exchange-traded funds (ETFs), mirroring the ruling party’s pro-crypto market position.
The crypto industry in South Korea may benefit from positive government support in the form of more favorable policies, irrespective of the party that wins the elections.
