The presidential candidate of South Korea from the conservative “party of the power of the people” promised to radically reform the cryptocurrency industry, taking the policy of the US presidential administration Donald Trump as a model.

Hong Jun-Pyo said that in the conditions of political turbulence caused by the impeachment of the current president of South Korea, Yun Sok-Yol (Yoon Suk-Yeol), he intends to rely on the blockchain and digital assets, taking the country to advanced positions in the global technological race.

The politician said that he was inspired by the recent steps of the United States, including Trump’s decision to cancel strict statements for reporting for decentralized finance platforms (Defi) and the creation of a national reserve of bitcoins.

“In order to turn blockchain and virtual assets into a full -fledged industry, I will carry out reforms in South Korea, similar to what the Trump administration implements in the United States,” said candidate Pyo.

Hon June Pyo became one of the eight candidates for the highest state post of the Republic of Korea.

Earlier, the seven largest banks in South Korea – KB Kookmin, Shinhan, Hana, Woori, Nonghyup, Toss Bank and Jeonbuk Bank – suggested the Committee on Political Assembly and representatives of the Party of People’s Power to remove existing restrictions on bankers with cryptocurrency exchanges.