South Korean presidential candidate Lee Jae-myung promised to promote the approval of Spot Crypto Assets ETF.

According to a report by The Block on May 7, the leading presidential candidate in South Korea, Lee Jae-myung, has pledged to promote the approval of Spot Crypto Assets Exchange-Traded Funds (ETFs) to fill the current legal gap that prohibits the issuance and trading of such products. Lee Jae-myung stated that he will promote Spot virtual asset ETFs and establish a comprehensive monitoring system to create a safer environment for virtual asset investments.

Lee Jae-myung, representing the left-leaning Democratic Party of Korea, announced his candidacy, stating that this move aims to provide more investment opportunities for the younger generation and promised to introduce other policies to support the asset growth of young people. Kim Byung-hwan, chairman of the Financial Services Commission (FSC) of Korea, stated in a meeting on Wednesday that the agency agrees with the campaign commitment regarding Spot Crypto Assets ETF and plans to discuss implementation plans with the new government.