South Korea’s new president will bolster crypto, but scandals prevail

President Lee Jae-myung rose from being a child laborer in post-war South Korea to becoming a crypto-friendly leader of one of the world’s largest digital asset markets.

President Lee Jae-myung’s rise to South Korea’s highest office marks the return of a left-leaning populist with deep working-class roots and bold plans for institutional crypto integration. 

Though crypto was not directly mentioned in Lee’s inauguration speech on June 4 after the impeachment of his predecessor, Yoon Suk Yeol, Lee now leads the country with a list of crypto promises made during his campaign.

His administration is expected to accelerate the integration of digital assets into Korea’s regulatory and financial systems on the back of the Democratic Party’s Digital Asset Committee.

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