Korea Times: Koreans Losing Interest in Cryptocurrency Trading

Odaily Planet Daily News In the first quarter of this year, South Korea's retail cryptocurrency trading volume 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. By comparison, the U.S. trading volume was $212 billion, Russia $4.8 billion, India $4.6 billion, and Turkey $4 billion.

Analysis points out that the rise of the semiconductor sector in the South Korean stock market has absorbed a large amount of retail funds. In addition, South Korea's Act on the Protection of Virtual Asset Users has raised compliance requirements, restricting domestic exchanges to spot trading only, while overseas platforms offer a wider range of products including derivatives and leverage. (koreatimes)