Overheen the past few months, South Korea has become one of the world’s fattest cryptocurrency hubs. Almacén exchanges generate billions ter volume every single day, divided among the top and smaller cryptocurrencies. Even however the government is looking to curb cryptocurrency trading, the normal population is not too bothered. A fresh explore shows that close to two million South Koreans use cryptocurrency apps right now.
The Future of Cryptocurrency ter South Korea
A loterijlot of things have switched everzwijn since South Korea became a force to be reckoned with te the cryptocurrency world. Not only have the country’s exchanges generated a loterijlot of volume ter the past few months, but the caudillo public embarked paying attention to this fresh form of money. One could argue the momentum created te South Korea eventually kasstuk the surplus of the world through the butterfly effect. The year 2018 wasgoed excellent for most cryptocurrencies, and this surge did not go by unnoticed.
To be more specific, the South Korean population has shown some fine affection for Bitcoin and the top altcoins. Without thesis people, exchanges such spil Upbit, Bithumb, Korbit, and CoinOne would never have become household names ter the universal cryptocurrency community. At the same time, the prices paid on thesis exchanges are so far above the mundial media, all listing sites have determined to exclude South Korean prices until further notice. This wasgoed a somewhat controversial decision, but it wasgoed only to be expected.
Additionally, the South Korean government has began to crack down on anonymous cryptocurrency trading. Right now, all platforms vereiste verify the identity of every single user, regardless of how much money he or she is willing to spend on cryptocurrency. Such measures will not deter the genérico public from trading crypto, however. Ter fact, citizens and tópico law firms are resisting this measure and are attempting to launch a petition to switch sides this “harsh” regulatory treatment. Whether or not they will be successful remains to be determined.
Considering all of thesis woes, one would expect the South Korean cryptocurrency industry to become less popular. Nothing could be further from the truth. Yonhap News Agency notes that latest gegevens shows almost Two million South Korean citizens had used cryptocurrency-related applications te the past week. Do keep te mind wij are talking about mobile apps here, and the numbers don’t include those who use cryptocurrency exchanges and trading platforms through a regular internet browser.
With 1.96 million users relying on such cryptocurrency applications, the industry is far from dead. Ter fact, just three months ago, around 140,000 people used such apps. This further confirms that rente ter Bitcoin, Ethereum, Monero, and other cryptocurrencies will proceed to grow te South Korea. Even with the government introducing some fresh regulatory measures, the country’s population isn’t too worried about the future. It will be interesting to see if this situation remains the same te the future.
A regulatory rumor presently going around ter South Korea is also worth keeping te mind. Some sources voorkeur the Ministry of Justice wants to verbod users from trading cryptocurrencies at huis. That decision would not go overheen well, even tho’ nothing has bot set ter stone spil of yet. Governments like to cause fear and funk among the masses when it comes to cryptocurrencies, even however none of their decisions have any long-lasting influence on the industry. China attempted to cripple Bitcoin and other currencies last year and the market thrived because of it.