[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"news-aggregator-south-korea-sees-record-high-c70192e451-2f2d-75fd-8955-aac78d7d8277":3},{"id":4,"timestamp":5,"title":6,"content":7,"link":8,"preview":9,"tags":10,"predictedTags":11,"showTags":12,"source":13,"reactions":14,"selfReactions":15,"logo":16,"sourceId":17,"sourceUserId":9,"asset":18,"tagsCategories":19,"totalComments":20,"lang":21,"unique_views_count":22,"enrichStatus":18,"triageKind":9,"triageImportance":9,"expandEligible":9,"summarizeEligible":9,"eventEligible":9,"eventType":9,"eventAction":9},"south-korea-sees-record-high-c70192e451-2f2d-75fd-8955-aac78d7d8277","1730405537000","South Korea Sees Record High Crypto Transactions","\u003Cp>Local reports show that crypto transactions in South Korea have surged to record highs. In the first half of this year, 7.78 million domestic virtual asset investors were active, reflecting a 21% increase from 2023.\u003C/p>\u003Cp>Daily transaction volumes have also climbed sharply by 67%, from 3.6 trillion won to 6 trillion won. \u003C/p>Crypto Adoption is Surging in South Korea\u003Cp>\u003Ca href=\"https://m.hankookilbo.com/News/Read/A2024103110230004835?did=NA\" target=\"_blank\">Data\u003C/a> showed that the operating profits for 21 centralized domestic exchanges more than doubled, seeing a 106% increase in the first half of this year.\u003C/p>\u003Cp>Read More: \u003Ca href=\"https://beincrypto.com/learn/crypto-regulation/\" target=\"_blank\">Crypto Regulation – What Are the Benefits and Drawbacks?\u003C/a>\u003C/p>\u003Cp>However, there’s a clear lack of diversity in crypto adoption. Men make up 67% of South Korea’s crypto investors, with a notable concentration of millennials, especially men in their 30s.\u003C/p>\u003Cp>“The inflow of funds into the US Bitcoin spot exchange-traded fund (ETF) and the US presidential candidates’ announcements of virtual asset support policies have spurred the rise in virtual asset prices,” the Financial Intelligence Unit \u003Ca href=\"https://m.hankookilbo.com/News/Read/A2024103110230004835?did=NA\" target=\"_blank\">told\u003C/a> a local news outlet. \u003C/p>\u003Cp>Despite this growth, \u003Ca href=\"https://beincrypto.com/south-koreas-new-crypto-regulatory-era/\" target=\"_blank\">South Korean regulators\u003C/a> are maintaining close oversight of the sector. High delisting rates and potential risks to investors are ongoing concerns. \u003C/p>\u003Cp>Over the past seven years, \u003Ca href=\"https://beincrypto.com/high-crypto-delisting-rates-in-south-korea/\" target=\"_blank\">34.9% of tokens listed\u003C/a> on South Korean exchanges were delisted, with half failing to last two years. \u003C/p>\u003Cp>These assets included tokens that gained rapid price increase due to initial exchange listings, but showed a lack of long-term stability. \u003C/p>\u003Cp>Amid these developments, South Korea stands among the \u003Ca href=\"https://beincrypto.com/dubai-ranks-as-top-crypto-hub/\" target=\"_blank\">top three crypto hubs\u003C/a> globally, alongside Dubai and Switzerland. \u003C/p>\u003Cp>A recent Social Capital Market report highlights South Korea’s combination of clear \u003Ca href=\"https://beincrypto.com/kamala-harris-agenda-black-men-crypto/\" target=\"_blank\">regulatory policies\u003C/a> and favorable tax structures are driving factors in its crypto leadership.\u003C/p>\u003Cp>Read More: \u003Ca href=\"https://beincrypto.com/learn/reduce-crypto-tax/\">How to Reduce Your Crypto Tax Liability – A Comprehensive Guide\u003C/a>\u003C/p>\u003Cp>Regulation continues to play a critical role in the country’s crypto landscape. In July, legislator \u003Ca href=\"https://beincrypto.com/south-korea-crypto-tax-law-potential-delay/\" target=\"_blank\">Song Eon-seok proposed a bill\u003C/a> to postpone taxation on crypto investment income. \u003C/p>\u003Cp>If passed, this bill would extend the tax deadline by three years, pushing it beyond the original January 1, 2025 date.\u003C/p>\u003Cp>The post \u003Ca href=\"https://beincrypto.com/south-korea-record-high-crypto-adoption/\">South Korea Sees Record High Crypto Transactions\u003C/a> appeared first on \u003Ca href=\"https://beincrypto.com\">BeInCrypto\u003C/a>.\u003C/p>","https://beincrypto.com/south-korea-record-high-crypto-adoption/",null,"[\"Markets\",\"South Korea News\"]","[\"Bitcoin\",\"Alongside\",\"Market\"]","[{\"name\":\"Bitcoin\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/blockchains/bitcoin.png\"},{\"name\":\"Alongside\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/protocols/alongside.png\"},{\"name\":\"Market\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/protocols/market.png\"}]","7",[],[],"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/news-feeds/sources/beincrypto.png","BeInCrypto","","[\"Crypto\"]","0","EN","1"]