According to a report by The South Korea Times, Lee Jae-myung, a South Korean politician and presidential candidate of the progressive Democratic party, announced that they will be accepting Bitcoin, Ethereum, and three other cryptocurrencies for his presidential campaign.
In other words, Lee’s supporters who are also familiar with cryptocurrency can contribute to his campaign starting this month. The report says that the team will convert the donated crypto to cash via a local exchange. Non-fungible tokens (NFTs) are also a part of the campaign’s fundraising plans.
Everyone who donates will receive an NFT receipt, which will feature a photo of Lee alongside the promises he’s making. In other words, presidential candidate Lee Jae-myung is the first-ever candidate in history to issue NFTs.
Last month, during a lecture at Seoul National University, Lee said that he wanted South Korea to be a crypto leader. He continues by saying that cryptocurrency is an “undeniable reality” at this point. Other than that, the presidential candidate also revealed that he supports the delay of the impending taxation on cryptocurrencies to next year. Not only that, but he promised his supporters that he would look into increasing the deduction limits.
Based on the recent pre-election poll last January 1, it appears that Lee has a 4.6% lead against his competitor Yoon Suk-yeol of the People Power Party. As for the election, it’s slated for March 9, 2022.
