According to Foresight News and reported by Cryptonews, Jeong Eun-bo, the chairman of the Korea Exchange (KRX), recently stated that South Korea needs to accelerate the institutionalization of the cryptocurrency market and take swift action, or it may fall behind in international competition. The average daily trading volume of the South Korean stock market is about 200 trillion won (approximately 14 billion USD), while the trading volume of the cryptocurrency market has exceeded this level since Donald Trump was elected as President of the United States. 'We must hurry to institutionalize the cryptocurrency market to create new added value. If we are vague in our approach to virtual currencies and treat them as speculative assets, we will fall behind in international competitiveness.'