South Korean candidate Hong Jun Pyo says he will scrap the crypto rules, aiming to make blockchain a major industry, as President Donald Trump did.
South Korean presidential candidate Hong Jun Pyo says he will pledge to remove similar crypto regulations and boost the country’s blockchain, such as how they were rewind during the US Trump administration.
At a policy event in Seoul on April 16, Hong said that he would “dismantle regulations to the extent that can be seen under the Trump administration” in order to “grow blockchain and virtual assets as a single industry.”
Hong, a candidate for the People Power Party’s presidential primary, held a policy briefing focused on the economy, labor and science and technology. There he reportedly announced 27 pledges centered on private sector growth, including key commitments to future industries such as artificial intelligence, quantum technology and superconductors.
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Hong’s position distinguishes him from other candidates by openly linking deregulation and blockchain development with national economic strategy. The South Korean presidential election, originally scheduled for March 3, 2027, moved forward on June 3 this year after Yoon Sook-Yeol’s blast each and removal.
Hon’s pledge coincides with the growing national interest in blockchain. South Korea’s National Pension Services is the world’s third largest public pension fund with over $800 billion in managed assets, and is reportedly considering using blockchain to improve transaction transparency. As Crypto.News previously reported, the fund also invested in stocks in US-based Crypto Exchange Coinbase.
read more: Apple blocks 14 other crypto exchanges in Korea for Kucoin, Mexc and 14 others
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