To win younger voters, Lee Jae-Myung, the progressive Democratic Party presidential candidate, will accept BTC and ETH as campaign contributions. Lee Jae-Myung is also the world’s first presidential candidate to issue NFTs.
Lee Jae-Myung will accept BTC and ETH as campaign contribution
According to The Korea Times, South Korean politician Lee Jae-Myung, who formally became the progressive Democratic Party’s presidential contender in October, will accept Bitcoin and Ethereum, as well as three other cryptocurrencies to be determined by his election committee.
This month, Lee’s cryptocurrency-savvy followers will be able to contribute to the campaign. According to the report, all contributed bitcoin would be converted to cash through a local exchange.
Lee Jae-Myung is the world’s first presidential candidate to issue NFT
Non-fungible tokens are included in the maverick politician’s cryptocurrency fundraising scheme. Donors to Lee’s campaign will receive an NFT receipt that includes a photo of the candidate and a list of his campaign promises.
As a result, the former governor of Gyunggi province has become the first presidential contender to issue NFTs in history.
The aim of Lee Jae-Myung’s cryptocurrency campaign
Lee is attempting to win younger voters with his cryptocurrency campaign. According to a November survey, 40.5 percent of respondents between the ages of 20 and 40 claimed they have invested in cryptocurrencies.
During a lecture at Seoul National University last month, he stated that he wants South Korea to take the lead in the global bitcoin scene, calling cryptocurrency an “undeniable reality.”
Lee also advocated for deferring cryptocurrency taxation until next year, while also vowing to expand deduction limitations.
According to the most recent pre-election poll, Lee holds a 4.6 percent advantage over Yoon Suk-Yeol, the conservative People Power Party’s nominee.
On March 9, 2022, the presidential election will take place.