The leading candidate for the South Korean presidential election promises to approve a Bitcoin ETF

ChainCatcher news, according to the Korea Economic Daily (KED), South Korea's Democratic Party leader Lee Jae-myung has become the latest presidential candidate to pledge that if elected, he will approve spot cryptocurrency exchange-traded funds (ETFs) and other cryptocurrency-friendly measures. Lee Jae-myung announced his cryptocurrency commitment on May 6 as part of a broader initiative to provide more investment opportunities for South Korea's youth, who are one of the main target demographics in the upcoming June 3 elections.

KED quoted Lee Jae-myung saying in Korean: "I will create a safe investment environment that allows young people to [accumulate] assets and plan for the future." He also promised to legalize spot cryptocurrency ETFs, reduce trading fees, and implement more consumer protection measures.