South Korean Politician Uses Cryptos to Finance Electoral Campaign

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The election campaign of South Korean politician Lee Jae-myung, who has officially become the presidential candidate of the Democratic Party, will accept Bitcoin and Ethereum as well as three other cryptos.

According to the organizers of the campaign, participants will receive special NFTs as a bonus. The NFTs will display the candidate’s photo together with its pre-selected promises.

The former governor of the province of Gyunga has become the first presidential candidate to issue his own non-fungible tokens (NFTs).

The promotion of cryptos reflects Lee’s urge to go out to young voters. According to a survey conducted in November, 40.5% of the respondents aged from 20 to 40 years stated they had invested in cryptocurrencies. This means that Lee’s decision to use cryptos to finance his campaign is not absurd.

He said in December that he wanted South Korea to lead the adoption of cryptocurrencies. He has also said he plans to increase the limits of deductions regarding crypto taxation.

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