South Korea’s crypto industry could be heading for a Trump inspired shakeup.

“In order to foster blockchain and virtual assets as a single industry, I will eliminate regulations as much as the Trump administration in the United States did,” Presidential candidate Hong Joon-pyo declared Tuesday at his campaign office in Seoul’s Yeouido district.

Hong promised to elevate blockchain and virtual assets into a fully recognized industry and introduce the technology into public services, according to a Yonhap News report.

The announcement arrives just days after former U.S. President Donald Trump signed a landmark resolution repealing a controversial IRS rule that had imposed traditional broker-style reporting requirements on…