South Korea | Crypto

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. Read more

Crypto policy is a key issue ahead of South Korea’s June 3 election, with both parties backing ETFs and stablecoin reforms.

South Korean police arrested a Russian national in Busan after a failed $730,000 crypto robbery in Seoul. South Korean authorities have arrested one of three Russian nationals accused of an attempted robbery during a fake crypto deal in Seoul. The suspects allegedly lured Korean investors to a hotel, where they tried to steal 1 billion won (approximately $730,000) in cash. The Gangseo Police Precinct in Seoul detained a man in his 20s in Busan on May 27, according to a report by local news outlet JoongAng Daily. The suspect faces charges of assault and attempted robbery. The other two suspects reportedly fled South Korea shortly after the incident. According to investigators, the robbery attempt occurred on May 21 at a hotel in Seoul’s Gangseo District. The suspects posed as participants in a peer-to-peer crypto transaction and invited 10 Korean men to the hotel. Read more

Presidential hopefuls in South Korea are turning to crypto to win younger voters, with older generations now joining the conversation. Cryptocurrency has emerged as a defining issue in South Korea’s snap presidential election, with candidates vying for support from a growing base of digital asset investors across generations. All three front-runners have rolled out crypto-friendly proposals. These include the legalization of spot Bitcoin (BTC) exchange-traded funds (ETFs) and the easing of banking rules that currently restrict fiat-to-crypto trading to just five platforms. The June 3 vote is slated to come around two years early, triggered by the impeachment of former president Yoon Suk-yeol after his controversial declaration of martial law in late 2024. Though quickly overturned by lawmakers, the abrupt power grab led to a political crisis and his eventual removal from office. Read more

Lawmakers close to Lee Jae-myung, the frontrunner in the South Korean presidential elections, have called for Seoul to steal a march on Washington by expediting the rollout of a KRW stablecoin. The post South Korea’s Biggest Party Urges ‘Expedited KRW Stablecoin Rollout’ appeared first on Cryptonews.

South Korea and the European Union have committed to strengthening cooperation to tackle global cyberthreats. The post South Korea, EU Pledge Joint Action Against North Korea’s Crypto Theft appeared first on Cryptonews.

South Korea may soon overhaul its crypto rules after all major presidential candidates have supported Bitcoin ETFs and institutional investment. Their coordinated pledges reflect expanding retail demand and parallel developments in the United States, setting up a decisive policy test on 3 June. The post CryptoQuant: South Korea’s Three Presidential Front-Runners Embrace Crypto – Policy Shift Ahead? appeared first on Cryptonews.

South Korea's Democratic Party has launched a Digital Asset Committee of scholars, blockchain executives and regulators, making crypto policy a central election issue. The group seeks presidential authority and is drafting a Digital Asset Act on user protection and market growth. The post Is South Korea’s Digital Asset Committee About to Redefine Crypto Regulation? appeared first on Cryptonews.

South Korea’s new Digital Asset Committee joins similar initiatives such as the Virtual Asset Committee launched in late 2024 by the Financial Services Commission. The largest political party in South Korea, the Democratic Party, has launched a Digital Asset Committee focused on developing cryptocurrency policies and promoting industry growth. The committee held its inaugural meeting at the National Assembly Members’ Hall in Seoul on May 13, the local news agency News1 reported. During its first meeting, the committee highlighted the importance of resolving regulatory uncertainty and addressing burning issues like stablecoin regulation amid the push for US-dollar stablecoins by the US government. Read more

RedotPay’s crypto cards are now live in South Korea, challenging the country’s traditional payment networks with real-time stablecoin transactions. Hong Kong-based fintech firm RedotPay has reportedly launched its cryptocurrency-enabled payment cards in South Korea, positioning itself as a potential disruptor in a market dominated by traditional credit card firms and mobile payment services. The company’s crypto debit cards — both physical and virtual — are now accepted at all Korean merchants that support Visa, according to a May 9 report by The Korea Economic Daily. The move marks RedotPay’s latest step in global expansion, following its earlier partnership with Visa and BIN sponsor StraitsX in February 2025 to enhance cross-border crypto payment capabilities. Read more

Stablecoin flows have dominated South Korea’s cross-border crypto activity in Q1 2025, composing 47 % of the ₩56.8 trn sent abroad as traders seek dollar-pegged pairs; yet inbound transfers have exceeded outflows, and pending regulation has become a key topic before the June presidential election. The post Stablecoin Flood Swells to ₩26.9 T, 47 % of South Korea’s Q1 Crypto Outflows appeared first on Cryptonews.