One of South Korean presidential candidates, Hong Joon-pyo, has disclosed that he intends to take a similar stance to Trump’s policies on crypto regulations.

Hong, who is currently vying to be the presidential candidate for South Korean right-wing party, People Power Party (PPP) announced that he will also make changes in disruptive technologies like AI, superconductors and quantum technology.

One of South Korean presidential candidates, Hong Joon-pyo, has disclosed that he intends to take a similar stance to Trump’s policies on crypto regulations.

Hong, who is currently vying to be the presidential candidate for South Korean right-wing party, People Power Party (PPP) announced that he will also make changes in disruptive technologies like AI, superconductors and quantum technology.

Hong’s stance is in line with locals’ rising interest in blockchain, as the National Pension Service in South Korea is reported to be researching on how to improve transparency with blockchain.

This comes at a time when South Korean crypto industry experts have complained about the recent draft bill, Basic Digital Asset Act, which regulates the stablecoin sector. The proposed bill would force stablecoin issuers based in South Korea to apply for permission from the Financial Services Commission before issuing any coin.

This bill exempts foreign-issued stablecoins like USDT from seeking approval, and thought leaders believe that it would be unfair to the growth of local stablecoin platforms.