BlockBeats news, on December 3rd, according to Korean media reports, the number of user accounts aged 60 and above on the major South Korean 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 hold a total of 676.09 trillion Korean won in cryptocurrency assets, with an average investment amount of approximately 8.72 million Korean won. Meanwhile, the balance of demand deposits in South Korea's five major banks stood at 592.67 trillion Korean won, a decrease of 26.95 trillion Korean won compared to the end of June, marking a new low since January of this year.
Analysts believe that the combined effect of Trump's rally and expectations of interest rate cuts has accelerated the shift of funds from banks to risk assets.
Previous reports indicated that the ruling and opposition parties in South Korea have reached a consensus on delaying cryptocurrency taxation, with the cryptocurrency income tax policy originally set to be implemented on January 1, 2024, now postponed to 2027.