The state-backed ICON (ICX) has risen more than 70% in the past 12 hours after crypto-friendly candidate Yoon Suk-yeol won the South Korean presidential election.
of the BBC according to the news In the presidential election, one of the closest elections in South Korea’s history, conservative candidate representing the conservative People’s Power Party yoonthe more politically progressive Democratic Party candidate Lee Jae-myung’u by less than 1% He became the country’s new president.
The old president by Moon Jae-In Candidates who exhibited pro-crypto stances in their campaigns despite the crackdown on crypto exchanges last year, won the election. younger and crypto-savvy demographic had aimed. Moreover cryptocurrencies In the election, in which he played a large role, both candidates were involved in their campaigns. non-fungible tokens (NFT) had published.
January Speaking at a virtual presence forum in yoonhad taken a forward-thinking stance on digital assets by promising to deregulate South Korea’s crypto industry.
To realize the unlimited potential of the virtual asset market, we must overhaul the unrealistic and illogical regulations.
Saying that he will continue to work in the field of crypto if he becomes president, Yoon stated that he wants to continue to create new initiatives (unicorns) worth more than $ 1 billion related to blockchain technology in South Korea.
Yoon also promised to introduce some kind of legislation that would ensure that crypto assets obtained from illegal activities are returned to victims in this regard.
State Supported Project Rises More Than 70%
Wednesday day $0.62 traded at levels South Korea‘s state-sponsored projecti ICON (ICX)after Yoon’s election as president in the last 12 hours 70%with an increase of more than for $1.08 rose up.
who had withdrawn at the time of writing the news ICON (ICX), CoinMarketCap according to data 2018 The all-time high (ATH) reached in $12.64 93% under from $0.87 is being traded.
Allowing separate blockchains to exchange data with each other a leading project ICXbefore falling out of favor among investors in later years, One of the best performing projects in the initial public offering (ICO) frenzy of 2017 had become one.