According to ChainCatcher news, the chairman of the Korea Exchange (KRX), Jung Eun-bo, stated that South Korea should quickly incorporate cryptocurrency into its financial system to overcome regulatory obstacles and maintain international competitiveness. He pointed out that since Trump's election as President of the United States, the average daily trading volume of the South Korean crypto market has exceeded 200 trillion won (approximately 14 billion USD), which is greater than that of the domestic stock market.
At the recent World Federation of Exchanges (WFE) summit, Jung Eun-bo emphasized that ignoring the virtual currency market will impact the profitability of exchanges. He also criticized the current attitude of viewing virtual currencies as speculative assets, warning that this could lead South Korea to lag in international competition. Despite the rapid growth of the crypto market in South Korea, there are currently no crypto companies listed on the KRX, businesses cannot purchase cryptocurrencies using their balance sheets, and regulators have not yet approved the launch of a Bitcoin spot ETF. He urged South Korea to seize the opportunity to institutionalize the cryptocurrency market to create new value and enhance international competitiveness.
