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South Korean presidential candidate vows to deregulate crypto like Trump-era US

South Korean presidential candidate Lee Jae-myung has vowed to deregulate cryptocurrencies in a similar way to the United States under the Trump administration. Lee, who is the frontrunner in the upcoming election, believes that cryptocurrencies have the potential to be a major driver of economic growth and innovation.

In a speech to supporters, Lee said that he would "create a regulatory environment that is conducive to the development of the cryptocurrency industry." He also said that he would work to make it easier for businesses and individuals to use cryptocurrencies.

Lee's comments come as South Korea is considering a number of measures to regulate the cryptocurrency industry. These measures include banning anonymous trading, requiring exchanges to register with the government, and imposing a tax on cryptocurrency gains.

Lee's proposal has been met with mixed reactions. Some people believe that it is a good way to promote innovation and growth. Others believe that it could lead to increased volatility and fraud.

It is unclear whether Lee's proposal will be successful. However, his comments are a sign that the South Korean government is becoming more open to the idea of regulating the cryptocurrency industry.

Here are some of the key points from Lee's speech:

• He believes that cryptocurrencies have the potential to be a major driver of economic growth and innovation.
• He wants to create a regulatory environment that is conducive to the development of the cryptocurrency industry.
• He wants to make it easier for businesses and individuals to use cryptocurrencies.
• He believes that the government should not ban anonymous trading or impose a tax on cryptocurrency gains.

Lee's proposal is still being debated. However, it is clear that the South Korean government is becoming more open to the idea of regulating the cryptocurrency industry.

Here are some of the challenges that Lee will face in deregulating cryptocurrencies:

• He will need to overcome opposition from lawmakers who are concerned about the risks of cryptocurrencies.
• He will need to find a way to balance the need to protect consumers with the need to promote innovation.
• He will need to ensure that the regulatory environment is clear and fair.

If Lee is elected president, it will be interesting to see how he implements his cryptocurrency deregulation plans.