Crypto at the Ballot Box: South Korea’s Hong Joon-pyo Promises ‘Trump-Style’ Deregulation

🇰🇷 Crypto Goes Political in South Korea — And Hong’s Betting Big

South Korea’s presidential race just got spicy. Conservative candidate Hong Joon-pyo wants to dismantle crypto regulations, echoing former U.S. President Donald Trump’s deregulatory playbook — and he’s not being subtle about it.

“I will break up regulations to the degree experienced during the Trump era,”
— Hong Joon-pyo, April 16 policy forum, Seoul

With over 15 million crypto users in the country — most of them young, tech-savvy, and politically active — Hong’s message hits right where it matters: the wallets.

🗳️ The Trump Playbook — in Seoul

Hong is framing crypto not just as a tech issue, but as national economic strategy. Inspired by Trump-era deregulation in the U.S., he wants to loosen AML rules, welcome foreign investment, and reshape KYC barriers that currently block non-residents from trading in Korea.

It’s a pivot from South Korea’s historically rigid stance — and Hong’s betting it could tip the scales in the June 3 election, especially after the impeachment of President Yoon Suk Yeol.

🔓 Deregulation = Growth?

This isn’t just empty rhetoric. Hong’s 50 trillion won plan (≈ $37B) includes:

• 🚀 Boosting AI and quantum computing
• 🔗 Making blockchain and crypto central to industrial growth
• 📈 Supporting banking reform to end exchange–bank exclusivity
• 🌐 Allowing verified foreign investors back into the local market

He wants to turn South Korea into a Web3 innovation hub, where crypto isn’t treated like a threat, but a national opportunity.

🧱 Blockchain Already Has Momentum

South Korea isn’t starting from scratch:

• The National Pension Service (NPS) bought into Coinbase and MicroStrategy last year.
• Banks are pushing to expand crypto access for institutional clients.
• Regulators are now openly discussing adjustments to current KYC requirements for foreign users.

Crypto isn’t fringe anymore — it’s mainstream, and now it’s a campaign talking point.

🥊 What’s at Stake?

South Korea is home to some of the world’s most active crypto markets. Any policy shift here could ripple far beyond Asia. With voters under 40 already owning digital assets, the candidate who wins this group may well shape the future of blockchain adoption at the state level.

And just like the U.S., where crypto PACs are influencing elections, Web3 is becoming a political lever.

✅ TL;DR

• 🇰🇷 Hong Joon-pyo promises Trump-style deregulation to boost crypto in South Korea.
• 🧠 Blockchain, AI, and quantum tech are central to his 50T won economic plan.
• 🏦 He wants to open markets to foreign investors and end bank-exchange exclusivity.
• 👥 With 15M+ South Koreans using crypto, this election could turn on digital finance policy.
• 📅 The vote happens June 3. And this time, it’s not just about politics — it’s about protocol.