A South Korean presidential candidate will be accepting donations in <a href="https://www.cryptoknowmics.com/news/microstrategy-buys-94m-more-bitcoin-now-holds-5-9b-in-btc/">Bitcoin</a> (BTC), <a href="https://www.cryptoknowmics.com/news/ethereum-is-on-a-role-to-experience-triple-halving-as-a-part-of-its-move-to-pos/">Ethereum</a> (ETH), and three other cryptocurrencies under review for his 2022 campaign. Lee Jae-Myung, the nominee for the progressive Democratic party will also be the world’s first presidential candidate to issue NFTs for campaign funding.
<h2 class="article__title" data-title="Bitcoin and Ether to Be Accepted as Campaign Contributions by South Korea's Top Presidential Candidate , Category: News ,Author: Alex Dovbnya , Date: 02 Jan 2022 , Week: 52" data-url="https://u.today/bitcoin-and-ether-to-be-accepted-as-campaign-contributions-by-south-koreas-top-presidential">Bitcoin and Ether to Be Accepted as Election Donations</h2>
According to <a href="https://www.koreatimes.co.kr/www/biz/2022/01/488_321539.html" target="_blank" rel="nofollow noopener">The Korea Times reports</a>, South Korean politician Lee Jae-Myung is open to donations in the form of cryptocurrencies for his 2022 presidential campaign. The donations will be accepted particularly in BTC, ETH, and three other cryptocurrencies not yet selected by his election committee.

The former civil-rights attorney Lee Jae-Myung announced his intention to run for president in July 2021. Three months later, he officially became the candidate of South Korea’s ruling party, the Democratic Party of Korea.

The election campaign fundraising plan also includes issuing NFTs to the crypto donors that will feature the candidate’s photo alongside his election pledges.

The NFTs will be emailed to donors, however, it’s not clear on which blockchain it will be issued.  The party explained that the NFTs will serve as a kind of bond so that their holders can exchange digital assets with other individuals.

Meanwhile, the crypto donations will be exchanged for cash using a centralized exchange where the fiat currency will be deposited into a contribution account.

Crypto investments have surged rapidly in South Korea. According to a recent <a href="https://www.hani.co.kr/arti/economy/economy_general/1020212.html" target="_blank" rel="nofollow noopener">survey</a>, 40.4 percent of respondents between 20 and 40 years had invested in cryptocurrency.
<blockquote><em>"As the young generation in their 20s and 30s are interested in emerging technologies, including virtual assets, NFTs and the metaverse, this type of fundraising could appeal to them,"</em> Kim Nam-kook, a campaign committee official, told a local media publication.</blockquote>

South Korea’s Potential President to Accept Crypto Donations for Election

A South Korean presidential candidate Lee Jae-Myung will be accepting donations in cryptocurrencies for his 2022 campaign.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

South Korea’s Potential President to Accept Crypto Donations for Election

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