South Korea’s two major political parties pledge to launch cryptocurrency incentives to win votes

PANews reported on April 6 that according to Bloomberg, South Korea’s parliamentary election will be held on April 10. Both major political parties participating in the election are promoting cryptocurrency-related incentives to win votes. The People's Power Party, led by South Korean President Yoon Seok-yue, has promised to postpone the digital asset tax, while the opposition Democratic Party has promised to lift restrictions on spot ETFs, including U.S. Bitcoin products. Yun Xiyue seeks to seize control of the legislature from the Democratic-led progressive camp in the April 10 congressional election. Official data shows that in the first half of last year, more than 6 million South Koreans, accounting for more than 10% of the total population, participated in the cryptocurrency market through registered exchanges. South Koreans invested more than $200 million in shares of U.S.-listed MicroStrategy Inc. last month, according to data from the Korea Securities Depository. They are also flocking to U.S. cryptocurrency futures ETFs. According to a report disclosed by Yonhap News Agency, about 7% of candidates own cryptocurrency.