last week in south korea winner of the elections Crypto-friendly new president Yoon Suk-yeol He had promised to transform the country into a cryptocurrency hub.
Yoon Suk-yeol, who managed to get the support of the public with his crypto-friendly statements during the election campaign, cryptocurrencies He said that he would remove the strict regulations on the subject.
Yoon, a former attorney general, expressed that he considers the country’s cryptocurrency rules to be far from reality and unreasonable.
Initial coin offerings (to ICOs) Yoon, who promised to allow cryptocurrency taxation rules He said he would arrange it more amicably.
In this regard, Yoon explained that investors who earn less than $40,000 a year from cryptocurrency trading will be exempt from paying taxes.
Yoon Suk-yeol, who will officially take office in May, will win the election. “Great victory of the people of South Korea” described as.
Cryptocurrency Industry Supports South Korea’s New President!
South Korea’s new president Yoon Suk-yeol cryptocurrency ecosystem stating that it will be positive for President of the Korea Blockchain Association He stated that they are confident about Yoon’s support for the crypto money industry.
“We definitely welcome his stance as he is confident in empowering the industry.
Most of the projects in the country had gone to Singapore and other countries as ICOs are prohibited. However, if the ban is lifted, projects will be able to raise money from investors more easily.”
Another name that welcomes Yoon Suk-yeol’s approach to cryptocurrencies is Anndy Lian Yoon, Head of cryptocurrency exchange BigONE Exchange.” He understands the importance of cryptos. He understands the future and it is unstoppable.” said.