The Korea Times: Koreans Losing Interest in Cryptocurrency Trading

in the first quarter of this year, South Korean retail cryptocurrency trading volume reached $69 billion, ranking second globally, trailing behind the United States' $212 billion. Data shows that South Korea's cryptocurrency trading volume in the quarter decreased by 28% year-on-year, the steepest decline among major global markets. In comparison, the US trading volume was $21.2 billion, Russia's was $4.8 billion, India's was $4.6 billion, and Turkey's was $4 billion.Analysis points out that the rise of the semiconductor sector in the South Korean stock market has absorbed a significant amount of retail funds. Additionally, the Virtual Asset User Protection Act in South Korea has raised compliance requirements, restricting domestic exchanges to spot trading only, while overseas platforms offer a wider range of products including derivatives and leverage. (koreatimes)