Layer 1 blockchain Kaia promises to announce South Korea’s winning Stablecoin following Wednesday’s opening ceremony for left-leaning politician Lee Jae-Myung, whose campaign includes a series of crypto-friendly commitments.
In Lee’s campaign, launching a Stablecoin launch with Won is one of the crypto goals, which sets him apart from other crypto-friendly candidates.
As South Korea’s constitution grants exclusive rights to the central bank’s Korean Bank’s currency issuance authorization, stable people were issued.
Still, Lee’s Democrats are leaning towards private-sector innovation. Councilman Min Byoung-Dug, he Lead the Party’s Digital Assets Committeehave Send a signal Supports privately issued Stablecoins and is ready to propose the Basic Act of Digital Assets, a comprehensive legislative framework for the crypto industry.
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Given Kakao’s support, Kaia’s interest in Stablecoins will bring weight, which is backed by many of South Korea’s basic digital services, including messaging, navigation and finance.
Stock pumps for Stablecoin beneficiaries
South Korea’s tradition and crypto investors are passionate about the new government.
According to a survey by the Korean Chamber of Commerce and Industry Quote In multiple local media, nearly 60% of respondents said they plan to expand their cryptocurrency under Lee’s tenure.
That optimism spread to the stock market as payment company Kakao Pay and its competition with Danal, both of which rose 29.9%.
Kakao Pay is widely regarded as a potential beneficiary of domestic Stablecoin due to its digital wallet infrastructure and QR code payment system. The company is Kakao’s Fintech division, whose Web3 subsidiary develops the Klaytn blockchain, now with Fence Chia supported by Japanese messenger team Form kaiia.
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The rally also reflected growing confidence that stable regulations would develop rapidly. Kim Yong-Beom, former deputy finance secretary, was appointed Chief Policy Officer for President Lee until recently, the research director of blockchain venture capitalist Hashed.
Legislator MIN’s upcoming Digital Assets Basic Bill is expected to include provisions that legalize and oversee the champions’ stable and stable, indicating that legislative support is merged behind the plan.
Lee’s presidency and stable signing
The main cloud of uncertainty pending over Lee’s presidency is his ongoing criminal trial that began when he was elected. Initially, the most sensitive case – a remand trial suspected of violating election laws during the 2022 campaign – was initially scheduled to resume on June 18.
South Korea’s Constitution grants president immunity from criminal prosecution Uprising or treasonbut it is not clear whether this applies to the trial before the inauguration.
Seoul High Court ruled on Monday Article 84 of the Constitution It does apply, and the trial is postponed indefinitely. The decision effectively cleared Lee’s government’s political runway to pursue encrypted agenda. The other four trials are still pending, and now the delay or suspension may depend on the interpretation of each court.
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