The two major political parties in the campaign for the South Korean parliamentary elections are promoting incentive measures related to encryption to win votes. The People's Power Party, led by South Korean President Yoon Suk-yeol, pledged to postpone the imposition of digital asset taxes, while the opposition Democratic Party promised to lift restrictions on ETFs (including US Bitcoin products) that directly hold tokens. Hwanseok Choi, a Democratic Party policy expert, said when quoting its declaration that we will allow ETFs, whether domestic or foreign.

Yoon Suk-yeol seeks to take control of the legislature from the progressive camp led by the Democratic Party in the public opinion poll on April 10. Official data shows that in the first half of last year, more than 6 million South Koreans (accounting for more than 10% of the total population) participated in the cryptocurrency market through registered exchanges. This represents a significant potential voter base in the crucial election.