Yoon Suk-Yeol Wins South Korea’s Presidential Election, Regulation of South Korea's Crypto Industry May be Eased

Conservative Party candidate Yoon Suk-Yeol, a former top prosecutor who promised to deregulate the crypto industry, will become South Korea’s next president. Crypto was one of the hottest topics during the election. Both Yoon and Lee announced crypto-friendly stances in an attempt to win over younger voters. At a crypto conference in January, Yoon said regulations “that are far from reality and unreasonable” must be overhauled in order to “realize the unlimited potential of the virtual asset market.”