South Korean President-elect Yoon Suk-yeol will take office in May with no business experience but strong ideas on one of the most contentious subjects in finance, cryptocurrencies.
Yoon has promised to allow initial coin offerings, or ICOs, as part of his broader cryptocurrency pledges.
A member of the conservative People Power Party, he has also vowed not to impose taxes on cryptocurrency trading gains of up to 50 million won ($40,000), treating them the same as stock winnings.
Yoon's proposals were welcomed by cryptocurrency advocates who expect obstacles to be removed and the door opened to increased opportunities in blockchain technology-based assets.
