South Korean MPs Bet on Bitcoin Over Boring Stocks

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In a world where politics and finance dance the tango, South Korean lawmakers have decided to waltz into the wild world of cryptocurrency. 🕺💃 A recent report reveals that these astute politicians are shunning the snooze-worthy local stock market in favor of Bitcoin, XRP, meme coins like PEPE, and even the shiny tech giants of the U.S., such as Microsoft and Tesla. Because why settle for mediocrity when you can gamble on the digital frontier? 🎲💰

This audacious move mirrors a nationwide trend. Over 16 million South Koreans are already trading on exchanges like Upbit, Bithumb, Coinone, Korbit, and Gopax. By 2025, this number is expected to balloon to 20 million, leaving the 14.1 million domestic stock investors in the dust. With trading apps making crypto as accessible as ordering takeout, it’s no wonder citizens and politicians alike are embracing the future of finance-one meme coin at a time. 🚀📱

South Korea’s Crypto Craze

An investigation by Energy Kyungjae, South Korea’s premier outlet for all things scandalous, delved into the National Assembly’s Culture, Sports, and Tourism Committee-the very group crafting investor policies. Lo and behold, instead of rallying behind the local stock market, some committee members are quietly funneling their funds into crypto and foreign stocks. Talk about a plot twist! 🎭💸

This irony is almost poetic. President Lee Jae-myung’s government is championing the “KOSPI 5000 era” to revive local markets, all while lawmakers are personally betting their fortunes on the blockchain roulette wheel. Who needs consistency when you’ve got conviction… and crypto? 🤷‍♂️💹

XRP and PEPE: The Politicians’ Pets

  • Jin Jong-oh (opposition People Power Party) owns over 3,300 XRP, along with a sprinkle of XCORE and Paycoin. His portfolio has ballooned from a modest $1,768 to nearly $9,600 in mere months. Clearly, he’s got the golden touch-or just a lot of luck. 🍀✨
  • Jin’s mother, perhaps the true family savant, holds Bitcoin, Chiliz, Sandbox, and a staggering 3.2 billion PEPE tokens. Move over, Warren Buffett; there’s a new crypto queen in town. 👑💎
  • Yang Moon-seok (Democratic Party) also dabbles in XRP with a cool $1,300 investment. Crypto knows no party lines, apparently. 🗳️📈

But wait, there’s more! Beyond crypto, lawmakers are also buying U.S. tech stocks like Microsoft, NVIDIA, Apple, and Tesla, along with unlisted Korean gaming firms such as Xten Games and Memray. Because diversification is the spice of life-and possibly a hedge against inevitable meme coin crashes. 🌶️📉

Lawmakers Predict the Crypto Future

These findings reveal a seismic shift in mindset: South Korean lawmakers are betting big on crypto and global tech over their domestic markets. As they draft policies to regulate and nurture these industries, their personal portfolios scream volumes about where they see the future of finance-on the blockchain, beyond Korea’s borders, and possibly on Mars. 🚀🪐

Never Miss a Beat in the Crypto Circus! 🎪

Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more. Because FOMO is real, darling. 👀🔥

FAQs (Frequently Amusing Queries)

Is cryptocurrency legal in South Korea? Yes, cryptocurrency is legal-sort of like pineapple on pizza. Some love it, some tolerate it, but everyone’s talking about it. 🍕🍍 Virtual Asset Service Providers (VASPs) like exchanges must register with the Financial Services Commission (FSC) and comply with real-name verification, anti-money laundering (AML), and cybersecurity standards. Because rules are rules, even in the Wild West of finance. 🤠💼

How are cryptocurrencies taxed in South Korea? Currently, crypto gains are not taxed-enjoy the free ride while it lasts! 🎢 However, proposed regulations around 2027 will introduce a 20% tax on annual profits exceeding roughly ₩50 million ($35,900 USD). So, spend those gains wisely, perhaps on a yacht aptly named “Blockchain Baby.” 🛥️💸

How popular is crypto in South Korea? Over 16 million citizens trade crypto, outpacing the 14.1 million stock investors, with the number expected to hit 20 million by 2025. Crypto fever is spreading faster than a viral TikTok dance. 💃📈

Are stablecoins regulated in Korea? Stablecoin bills are still pending, with strict controls likely from 2025. Until then, tread carefully-your stablecoin might not be as stable as you think. 🧊💣

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2025-08-28 10:31