South Korea’s crypto space is heating up with the June 3 presidential election looming. Both top contenders have guaranteed crypto ETF approval, leading to a possible shift in the nation’s cautious stance toward digital assets. This development will potentially unlock fresh opportunities for investors and reshape the market terrain.
Presidential Candidates Pledge Crypto ETF Approval
South Korea’s top presidential candidate, Lee Myung-bak, has committed to legalizing spot crypto ETFs if he is elected. He wants to create a safer investment environment for millennials and reduce trading fees. Lee’s Democratic Party currently leads in survey polls, with about 42% support ahead of the June 3 vote.
People Power Party candidate Kim Moon-soo has also pledged crypto reforms. His proposals include permitting big government funds such as the National Pension Service to invest in cryptocurrencies and eliminating the “one exchange-one bank” system. This will attract institutional investors and enhance transparency.
Presently, South Korea prohibits spot crypto ETFs due to regulatory issues. However, both parties are working toward repealing the prohibition. This complies with international trends following the US approval of spot Bitcoin ETFs earlier in the year. The Financial Services Commission has indicated receptiveness to reform after the election.
CartelFi: Riding South Korea’s Crypto Wave with High Yields
Capitalizing on South Korea’s expanding crypto reforms, CartelFi is poised to take advantage of the trend. It provides single-asset pools for staking meme coins such as PEPE and DOGE. It offers up to 1000% APY, rewarding long-term holders without requiring token selling. Rewards come in the form of the platform’s token, $CARTFI, which is supported by a deflationary buyback-and-burn mechanism.
In less than a month of the presale launch, CartelFi has raised more than $1.5 million, indicating high investor confidence. From its presale opening at $0.0251, the price rose by 80% to about $0.045. This was possible with scheduled 5% increments every 72 hours up to July. Early buyers could see substantial profits if CARTFI attains its presale target.
CartelFi’s tokenomics utilize up to 100% of protocol fees to buy and burn CARTFI tokens to decrease supply and support a price increase. CartelFi’s deflationary model, paired with high staking rewards, seems attractive to retail and institutional buyers looking for consistent returns in the volatile meme coin space.
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