The Central Bank of South Korea issued a statement on Cryptocurrencies: A Positive Development

Cryptocurrencies have become a mainstream investment vehicle in South Korea, with 30% of the population now participating in the market, according to the Bank of Korea. Recent data shows the country’s crypto industry growing rapidly, approaching parity with traditional stock market activity. As of the end of November, there were 15.59 million cryptocurrency investors in South Korea, up 610,000 from the previous month, accounting for nearly a third of the country’s total population of 51.23 million. The average daily trading volume on South Korean digital asset exchanges reached 14.9 trillion won (about $10.5 billion) in November, close to the daily trading volumes of the KOSPI Index (9.92 trillion won) and the Korea Enterprise Index (6.97 trillion won). Related News: New Development in the Fate of Terra (LUNA) Founder Do Kwon The total value of cryptocurrency assets held by South Korean investors rose to 102.6 trillion won ($70.3 billion) in November, a significant increase from 58 trillion won ($39.7 billion) in October. This growth reflects broader trends in the global cryptocurrency market. Data from the Financial Services Commission (FSC) showed that South Korea’s virtual asset market capitalization increased by 27% in the first half of the year, reaching 55.3 trillion won ($40.1 billion) at the end of June, from 43.6 trillion won six months earlier. From January to June, the average daily transaction value increased by 67% to 6 trillion won, while market operators reported a 106% increase in operating profit to 590 billion won. The number of market users increased by 21% to 7.78 million, and trader deposits in Korean won increased by 3% to 5 trillion won. *This is not investment advice. Continue Reading: The Central Bank of South Korea issued a statement on Cryptocurrencies: A Positive Development