According to Deep Tide TechFlow news on December 3, as reported by Pioneer Economy, the number of user accounts aged 60 and above on South Korea's major cryptocurrency exchanges, Upbit and Bithumb, reached 775,700 (as of the end of September), an increase of 30.4% compared to the end of 2021. Users in this age group collectively hold 67.609 trillion won in cryptocurrency assets, with an average investment amount of approximately 8.72 million won. Meanwhile, the balance of demand deposits in South Korea's five major banks is 592.67 trillion won, a decrease of 26.95 trillion won compared to the end of June, marking a new low since January this year.
Analysis suggests that the effect of Trump rallies, combined with expectations of interest rate cuts, has accelerated the shift of funds from banks to risk assets.
According to previous reports, the ruling and opposition parties in South Korea have reached a consensus to postpone cryptocurrency taxation, with the cryptocurrency income tax policy originally scheduled to be implemented on January 1, 2024, now delayed until 2027.