South Korea Urged To Expedite Cryptocurrency Market Regulation

According to Foresight News, as reported by Cryptonews, Jeong Eun-bo, the chairman of the Korea Exchange (KRX), has emphasized the urgent need for South Korea to accelerate the institutionalization of its cryptocurrency market. He warned that failure to act swiftly could result in the country falling behind in international competition. The daily trading volume of the South Korean stock market is approximately 20 trillion won (around 14 billion USD), while the cryptocurrency market's trading volume has surpassed this level since Donald Trump was elected President of the United States. Jeong Eun-bo highlighted the importance of creating new added value by institutionalizing the cryptocurrency market. He cautioned that if virtual currencies are ambiguously treated as speculative assets, South Korea risks losing its competitive edge on the global stage. The call for action underscores the growing significance of the cryptocurrency market and the need for clear regulatory frameworks to harness its potential effectively. South Korea's proactive approach could position it as a leader in the rapidly evolving digital asset landscape.