The Growing Impact of Crypto as a Political Agenda in Global Elections
Cryptocurrency has rapidly evolved from a niche financial sector into a significant part of the political agenda across the jurisdictions of multiple countries. In countries like South Korea, the United States, and Thailand, many political leaders have increasingly adopted crypto-related issues as part of their election agendas, reflecting the surging impact on voters and economies alike.
Crypto Politics in South Korea
In South Korea, the inclusion of crypto regulation in political campaigns has become prominent in recent years. The stance of political candidates on cryptocurrency regulations has had a direct impact on election outcomes.
For example, in the 2022 presidential election, both leading candidates—Lee Jae-myung and Yoon Suk-yeol—appealed to the country’s growing base of young crypto investors. They promised regulatory reforms and protection for crypto traders, targeting younger voters who have been heavily invested in the burgeoning crypto market.
Crypto Politics in the USA
Cryptocurrency has also played a notable role in U.S. local elections, particularly in cities like New York and Miami. In the 2021 New York mayoral election, candidate Eric Adams took a strong pro-Bitcoin stance, pledging to make New York a hub for cryptocurrency innovation. Adams also pledged to take his first three salaries in Bitcoin, signalling his intent to position New York as a leader in the crypto economy.
Crypto Policies in Thailand
In Thailand, cryptocurrency became a talking point during the 2023 general election. Political parties like the Pheu Thai Party capitalised on the crypto boom, promising blockchain-related projects and innovative regulatory policies.
Notably, the regulatory framework around crypto remains complex in Thailand, but politicians recognized the importance of addressing the issue to connect with younger and more tech-literate voters. The rise of Bitcoin and crypto-related discussions in Thailand’s political sphere underscores the global trend of cryptocurrencies impacting political campaigns.
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