South Korea is exploring the use of digital assets such as cryptocurrencies for political fundraising. At a recent policy seminar titled “Political Fundraising, Now with Digital Assets,” hosted by lawmaker Min Byung-deok, experts from the blockchain industry, financial regulation, and academia gathered at the National Assembly to discuss potential paths toward legalization.
Kim Ji-ho, CEO of TokenPost, emphasized the benefits of blockchain, citing transparency, traceable records, and accessibility for small-scale donors. “This could increase civic participation in politics,” he said, referencing the U.S. Federal Election Commission’s approval of crypto donations and rising global adoption trends.
Yet legal and institutional hurdles remain. Tax experts highlighted the difficulty of valuing donations at the time of transfer and accounting for their tax implications. A National Election Commission official noted that current law defines political donations as “cash, securities, or goods,” but suggested that crypto may qualify if it can be liquidated immediately. The Financial Services Commission also expressed interest in the ongoing discussions.
Blockchain firm Blocko presented a prototype platform called “GIVE,” offering transparent, secure crypto donations with donor verification features. They claimed the technical groundwork is already in place for real-world implementation.
Lawmaker Min stressed the urgency of updating Korea’s 20-year-old Political Funds Act to reflect digital realities. “We need a legal system that matches the technology our citizens already use,” he stated. The possibility of a pilot program in the 2026 local elections was also raised as a realistic next step.
As Korea moves to embrace a digital economy, integrating crypto into political finance may mark a transformative shift in how democracy is funded.
