South Korean crypto market grows to $45.9B in 2021 despite strict regulations

📆 02/03/2022 00:30:00
📰 Cointelegraph

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It’s more regulations, no problems for crypto in South Korea. The South Korean crypto market grew to $45.9 billion by the end of 2021 despite growing regulatory scrutiny.

South Korea’s crypto market grew to 55 trillion Won by the end of 2021, as per a new study from the country’s chief financial regulator, the Financial Service Commission.

The FSC analyzed transaction data from the 24 licensed crypto exchanges and revealed that daily transactions on Korean crypto exchanges reached 11.3 trillion won . The combined operating profit of 24 businesses came to 3.37 trillion won . A total of nine crypto exchanges reported a net loss over the past year.

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