Crypto presence in South Korea is significant: Approximately 10% of South Koreans engage in cryptocurrencies, influenced largely by market trends. The local market’s growth is stymied due to limited institutional investments, as banks cannot hold crypto assets on their balance sheets.
Investors require better protection: Jeong urges South Korea to approve Bitcoin spot ETFs to enhance investor security and align with international practices. Delays in these regulations hinder potential growth, risking South Korea’s competitiveness in the evolving crypto landscape.