Cryptocurrency promises: Election initiatives in South Korea
Date: 2024-04-10 Author: Oliver Abernathy Categories: IN WORLD
South Korean political parties are betting on cryptocurrencies ahead of elections, promising laws to boost the sector.
Opposition forces intend to allow the launch of spot crypto funds and provide retail investors with tax-free access to ETFs. It is also planned to expand tax benefits for crypto investors with an increase in the tax deduction threshold.
The ruling party promises legislative support to protect crypto market participants and defer taxation of the sector, presumably starting in 2025.
Criticism and Expert Opinion
Some experts believe these promises are just an attempt by politicians to attract young voters and have expressed concerns about the lack of training among politicians on cryptocurrency issues.
Such promises reflect the growing influence of cryptocurrency in South Korean political discourse, but their implementation and subsequent effects require careful monitoring.
