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A study by the Financial Services Commission of South Korea states that in 2021, the country's cryptocurrency market has increased to 55 trillion won ($45.9B).
According to the regulator, in the coming years, investment in digital assets will only grow. Moreover, the activity of investors will intensify even against the background of tightening policy by the supervisory authorities.
The Financial Services Commission (FSC) has analyzed transactions processed by 24 of the largest licensed bitcoin exchanges. This study showed that the daily trading volume on Korean platforms reaches 11.3 trillion won, or $9.4 billion.
The profit of such companies was about 3.37 trillion won ($2.8 billion). At the same time, nine crypto exchanges reported losses over the past year. More than 90% of transactions were made by users of platforms such as Upbit, Coinone, Korbit, and Bithumb.
The attack on the cryptosphere in South Korea has been observed over the past few years.
In December last year, it became known that the main bitcoin exchanges would stop servicing crypto wallets that did not pass verification. Moreover, the authorities do not exclude the introduction of more stringent legislation for the industry.