So at the end of the day it is not all about Bitcoin but rather about releasing their own controlled stablecoin. So what is there for the Bitcoinist to celebrate?
To be more precise, most recent presidents-elect have tended to favor cryptocurrencies in general, not just bitcoin. Bitcoin has never been their focus, even with Trump.
According to the latest news, President Lee Jae-myung is pushing forward with his crypto-related campaign promise to legalize the issuance of stablecoins in the country.
Similarly in the United States, no bitcoin-related bills have been proposed to Congress, so far. They are focusing on passing bills related to stablecoins.
It is clear that they are doing what benefits them first, they are not prioritizing bitcoin like many bitcoin investors think.
https://cointelegraph.com/news/south-korea-plan-allow-stablecoins-introduces-bill