Urgency for regulation: South Korea needs to regulate its cryptocurrency market to remain competitive globally. Jeong Eun-bo has stressed that failing to do so may lead to significant disadvantages in the rapidly evolving digital asset sector.
Significant trading volume: The daily trading volume of South Korean stocks is around 20 trillion won, or 14 billion USD. In contrast, the cryptocurrency market’s trading volume has surpassed this level, indicating its growing importance in the financial landscape.
Need for a regulatory framework: To fully harness the potential of the cryptocurrency market, a clear regulatory framework is vital. Jeong Eun-bo warned against viewing cryptocurrencies solely as speculative assets, emphasizing the need for proper institutionalization.