Korea Times: Koreans losing interest in cryptocurrency trading

Odaily Planet Daily News In the first quarter of this year, retail cryptocurrency trading volume in South Korea reached $69 billion, ranking second globally, behind the United States' $212 billion. Data shows that South Korea's cryptocurrency trading volume in the quarter fell 28% year-on-year, the largest decline among major global markets. In comparison, trading volume in the US was $21.2 billion, Russia $4.8 billion, India $4.6 billion, and Turkey $4 billion.

Analysts pointed out that the rise of the semiconductor sector in the South Korean stock market has absorbed a significant amount of retail funds. In addition, the Virtual Asset User Protection Act in South Korea has raised compliance requirements, limiting domestic exchanges to spot trading only, while overseas platforms offer a wider range of products including derivatives and leverage. (koreatimes)