TechFlow news, on December 3, according to Pioneer Economics, the number of user accounts aged 60 and above on South Korea's major cryptocurrency exchanges Upbit and Bithumb reached 775,700 as of the end of September, up 30.4% from the end of 2021. Users in this age group collectively hold 6.7609 trillion KRW in cryptocurrency assets, with an average investment of approximately 8.72 million KRW per person—the highest among all age groups. Meanwhile, the total balance in current accounts at South Korea's five major banks stood at 592.67 trillion KRW, down 26.95 trillion KRW from the end of June, marking the lowest level since January this year.
Analysts believe that the Trump rally effect, combined with expectations of interest rate cuts, is accelerating the shift of funds from banks to risk assets.
Previous report, South Korea's ruling and opposition parties have reached a consensus to postpone the taxation of cryptocurrencies. The cryptocurrency income tax policy originally scheduled to take effect on January 1, 2024, will now be delayed until 2027.
