Hong Joon-pyo aims to model South Korea’s crypto strategy after Trump

Hong Joon-pyo, a South Korean presidential candidate for the People Power Party, has pledged to model the country’s crypto regulatory framework after policies associated with former U.S. President Donald Trump.

His strategy focuses on deregulation, blockchain integration, and economic growth through digital assets.

Hong aims to roll back existing crypto regulations to foster innovation, explicitly citing the Trump administration’s approach as a blueprint.

He plans to integrate blockchain technology into government operations to enhance transparency and efficiency.

Hong seeks to recognize cryptocurrencies and blockchain as legitimate economic sectors, positioning them as central to South Korea’s tech-driven growth.

A five-year investment plan worth at least 50 trillion won (~$36.5 billion) targets cutting-edge sectors like AI, quantum computing, and blockchain.

With over 15 million crypto users in South Korea—many of whom are young voters—Hong’s pro-crypto stance is seen as an effort to appeal to this demographic ahead of the June 2025 election.

His proposals align with global trends, including the U.S. Strategic Bitcoin Reserve initiative, which has pressured South Korean leaders to adopt similar policies.

The Bank of Korea opposes holding Bitcoin reserves due to volatility, highlighting potential institutional resistance. However, Hong’s emphasis on deregulation and blockchain adoption reflects a broader shift toward embracing digital assets as a national economic strategy.

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