South Korean lawmaker Lee Kwang-jae announced on Sunday that he has started accepting political donations in cryptocurrencies.
Fast facts
- Donors can use Bitcoin, Ethereum, Kakao’s KLAY, media industry-focused NEWS, and payments-focused Paycoin, while receipts can be issued as non-fungible tokens (NFTs), according to Lee’s website.
- The first donor was an anonymous professional from the blockchain industry who expressed his support for the integration of blockchain technology in politics, according to Lee’s office.
- Lee heads the future economy committee of Lee Jae-myung’s presidential campaign.
- The presidential candidate is a member of the ruling Democratic Party and is also planning to send NFTs as receipts for campaign donations.
- Crypto has become a campaign issue for South Korea’s upcoming March 9 presidential election, with Lee, the presidential candidate, continuing to promote crypto and blockchain in a bid to sway millennial and Gen Z voters.