South Korea is a Key Player in the Global Crypto Market
South Korea is a major hub in the fast-growing crypto market globally. Seoul, in particular, is the center of the blockchain industry, which is developing rapidly due to high investment rates and user engagement. Global events such as the possible approval of a Bitcoin spot ETF in 2024 are expected to have a positive impact on the crypto market, and the South Korean government is strengthening its regulatory and legal framework in response. The Digital Asset Basic Act and the Virtual Asset User Protection Act are two examples of this.
While thousands of cryptocurrency exchanges have emerged in South Korea in the past, only a few large exchanges such as Bithumb, Upbit, and Coinone have established themselves in the market. This is because startups in the blockchain industry often come a...