South Korea's ruling Democratic Party members accept crypto assets as campaign donations

On December 30, foreign media reported that Lee Kwang-jae, a member of the Democratic Party of Korea’s ruling party, planned to accept crypto assets as campaign donations, and said that he would issue an NFT as a receipt for such donations in January next year.

According to Lee Kwang Jae’s press office, this is an experimental project. We plan to accept 10 million won (approximately US$8,400) in cryptocurrency, with a limit of 1 million won (US$840) per donor. The donated assets will be converted into cash at the Korean crypto exchange and hired in accordance with political and financial regulations.