Trump Effect: South Korean Crypto Transactions Surpass 15 Trillion Won
The Bank of Korea, South Korea's central bank, has published its first crypto-related records, with crypto transactions experiencing a significant spike to 14.9 trillion won, equivalent to US$9.6 million.
This figure was recorded as having increased significantly in November, where in previous months the transactions were not even half of that. It was recorded that throughout July-October 2024, the figure was only around 2.9 trillion won to 3.4 trillion won, as quoted by YonHap.
The number of investors in the Ginseng Country has even increased by 100 thousand people every month. This shows a positive movement towards the growth of crypto in the country.
This data shows a positive performance after Donald Trump from the Republican Party won the US Presidential Election on November 5.
Even so, the tax decision on crypto in South Korea has shown a long delay, and has not even been decided until the end of this year.
-source: Academy crypto
