According to sources on April 9, the outcome of the South Korean election may depend on the intentions of the 6 million cryptocurrencycurrency traders in the nation.
On April 10, the country will cast ballots in legislative elections, and both main parties have promised policies pertaining to cryptocurrencycurrencies in their manifestos.
The Democratic Party guarantees no fiscal control over spot ETFs on Bitcoin and altcoins, whilst the People’s Power promises to postpone the capital tax on cryptocurrency profits while prioritizing investor protection.
Although some cynical traders wonder if politicians are looking out for their own interests, many who want to benefit from tax breaks and trade surges remain optimistic.
Political Rivalry and Crypto’s Influence
According to election spectators, voters will most likely see a close race between the People’s Power Party and the Democratic Party, with the People’s Party holding a modest advantage over the current front-runner, the Democratic Party.
Another excellent issue is that the Seoul Treatment Court notes that bitcoin “personal rehabilitation” applications among young people have increased as a result of cryptocurrencycurrency purchases. This illustrates the reality that bitcoin-related policy-making has important organizational ramifications. The cryptocurrency community can play a variety of roles during the electoral process, but there is little doubt that it has significant influence and will continue to do so.
