Recently, the crypto scene in the 'kimchi country' has been even hotter than kimchi 🌶️! Congress, exchanges, and presidential candidates are all stirring things up, and a major drama that will change the Asian crypto landscape is unfolding! Xiao Pang has compiled this super comprehensive guide overnight to help you get on board!
💥 First wave: The entire nation of kimchi country is trading coins! Trading volume crushes the stock market, and institutions are also getting a piece of the pie~
Data from the Bank of Korea is eye-popping 👀! By the end of 2024, over 18 million people (35% of the total population) will hold crypto assets, with a total value of 74.5 billion USD! On certain trading days, the crypto trading volume directly rubbed the Korean stock market's face in the dirt—on March 8, 12 trillion won trading volume, and the KOSPI index cried in the toilet (11.4 trillion won)!
Even more exciting is that institutions are starting to enter! On June 2, World Vision Korea sold 0.55 ETH (about 1396 USD) on Upbit, becoming the first to test the waters after the ban on institutional trading was lifted in Korea! New FSC regulations: from June 1, non-profit organizations and exchanges can trade legally, and in the second half of 2025, listed companies and professional investors will also rush in!
🗳️ Second wave: The presidential election bets on the future of crypto! Two major candidates frantically painting visions
The June 3 election is considered the 'century showdown' in the crypto world! Lee Jae-myung vs Kim Moon-soo, two giants betting heavily on crypto policies:
✅ Lee Jae-myung (Democratic Party) makes a big move:
- Legalization of Bitcoin spot ETFs (retail investors ecstatic 🎉)
- 884 billion national pension fund entering the market (epic fund pool 💸)
- Korean Won stablecoin issuance (anti-capital outflow operation 💪)
✅ Kim Moon-soo (People Power Party) is also not backing down:
- Directly calling for 'easing regulations' and 'expanding digital asset channels'
- Committed to advancing the long-stalled tokenized securities legislation (passed unanimously by both parties!)
No matter who gets elected, the Korean crypto market will welcome a 'policy bull market'! 🚀
❄️ Third wave: Is the central bank pouring cold water? The stablecoin battle hides capital competition
Bank of Korea Governor Lee Chang-yong suddenly poured cold water on June 2 💦: be cautious about the Korean Won stablecoin! Concerns about circumventing capital controls. But Lee Jae-myung's team is pushing the stablecoin as a 'national protective artifact'!
What's even more interesting is that the Bank of Korea is working on its own 'deposit token'—a stablecoin backed by the central bank and based on commercial bank deposits, set to be tested in the second half of 2025! This official stablecoin vs private stablecoin battle is practically a crypto version of a 'palace drama' 👑
🌏 Fourth wave: The rise of Asia as a crypto center! From kimchi premium to Web3 hub
South Korea has long been a global TOP 3 crypto market:
- Daily trading volume of 5.4 billion USD
- 9.7 million active users (second only to the US and China)
- Unique 'kimchi premium' phenomenon (30-40% higher than international prices)
- Upbit has long ranked among the top five in global trading volume
Future goals are aimed at Singapore! But the challenges are not small: a 20% crypto tax in January 2025 might cause trading volumes to plunge, and the differences between the central bank and the government could also impact market expectations.
💡 How can ordinary people seize the opportunity?
1. Compliance trend: New FSC regulations require strict disclosures, leading platforms will dominate the landscape, while small projects will face difficulties 💀
2. Institutional dividend: The entry of pension funds and listed companies will bring more blue-chip projects, with long-term capital rushing in
3. Policy tracking: Election results, progress on the token bill, and central bank direction—these three variables determine market trends
⚠️ Risk warning: The crypto market is always a battlefield of opportunities and risks coexisting. We must keep our eyes open, closely follow policy trends, and seize the benefits steadily!
18 million South Koreans use real money to prove—cryptocurrency is no longer a niche game, but a new battlefield for wealth distribution! Are you ready for this 'crypto revolution'? Hurry up and follow Xiao Pang for the latest updates! 💎#韩国加密政策 #加密市场回调
