TechFlow news, on December 16, according to Cryptonews, Jeong Eun-boo, chairman of Korea Exchange, said in an interview with Maeil Business Newspaper that South Korea needs to "accelerate the institutionalization of digital assets" and "act swiftly," adding, "If we treat virtual currencies ambiguously and regard them merely as speculative assets, we will fall behind in international competitiveness."
He noted that the daily trading volume of South Korea's stock market is about 20 trillion won (approximately $14 billion), while the cryptocurrency market's trading volume has exceeded this level since Donald Trump was elected U.S. president. The scale and influence of the crypto asset market have grown to a point that traditional markets can no longer ignore, and exchange leaders from around the world discussed this extensively at the recent World Federation of Exchanges (WFE) summit.
Notably, South Korea's cryptocurrency market is unique in that it is primarily driven by retail investors. Currently, no cryptocurrency companies are listed on the Korea Exchange, firms are not allowed to purchase cryptocurrencies using their balance sheets, and spot Bitcoin ETFs have yet to be approved.
