Bitcoin and Ethereum will accept as contributions for the election campaign of the main candidate for the presidency of South Korea

 

According to a report by The Korea Times, South Korean politician and Democratic presidential candidate Lee Jae Myung’s political campaign will accept Bitcoin, Ethereum, and three other cryptocurrencies that have not yet been selected by his electoral committee.

 

According to the report, all donated cryptocurrency will be converted into cash using a local exchange.

 

In addition, people who donate to Lee’s campaign will receive an NFT receipt showing a photograph of the candidate along with his campaign promises.

 

As such, this makes him the first-ever presidential candidate to release an NFT.

 

Last month, while giving a lecture at Seoul National University, the politician announced that he wants South Korea to lead the cryptocurrency industry in the global market, stating that cryptocurrency has become “an undeniable reality.”

 

Lee also supported the postponement of taxation of cryptocurrencies for next year and promised to increase tax deduction limits.