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A South Korean legislator accepts Bitcoin donations and issues NFT receipts

Lee Kwang-jae, a South Korean legislator, said on Sunday that he has begun taking bitcoins as political donations.

According to Lee’s website, donors can use Bitcoin, Ethereum, Kakao’s KLAY. Then, media industry-focused NEWS, and payments-focused Paycoin, with receipts provided as non-fungible tokens (NFTs).

According to Lee’s office, the first contribution was an unnamed blockchain industry specialist who expressed support for the integration of blockchain technology into politics.

Lee is the chairman of Lee Jae-presidential myung’s campaign’s future economy committee.

The presidential candidate is a member of the ruling Democratic Party, and he intends to use NFTs as campaign receipts.

Crypto has emerged as a campaign topic in South Korea’s impending presidential election on March 9, with presidential candidate Lee continuing to promote crypto and blockchain in an attempt to persuade millennial and Gen Z voters.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.