The conservative presidential candidate for South Korea, Yoon Suk-Yeol, has been declared the winner of the national election. He represents the People Power Party and took home the victory with a margin of below 1%.
During the campaign, he had promised to deregulate the crypto industry of South Korea, in January of this year declaring: “we must overhaul regulations that are far from reality and unreasonable. We must shift to a negative regulation system to ensure at least the virtual asset market has no worries.”
Among the measures that he mentioned were easing the tax requirements on crypto investment profits.
The debate around the crypto sector was an important one during this presidential campaign and true to the times we live in, both presidential candidates had issued campaign-related NFTs during their candidacy.