South Korea is urgently calling for the institutionalization of cryptocurrencies.
The chairman of the Korea Exchange, Jeong Eun-bo, emphasized the need for South Korea to adapt to the evolving financial landscape and maintain its competitive edge.
The rapid growth of digital assets has made them a formidable force in the financial ecosystem, and the current regulatory framework is inadequate.
However, political instability has stalled any regulatory advancements until at least 2025. This has hampered the growth of the crypto market, which has already surpassed the local stock market in trading volume.
Despite the uncertain future, there is hope that once the political situation stabilizes, South Korea will be able to create a regulatory framework that supports the growth of digital assets and positions itself as a leader in the global crypto market.