PANews reported on December 16 that according to the Daily Economic News, Zheng Enfu, chairman of the Korea Exchange (KRX), said that South Korea should incorporate cryptocurrencies into the financial system as soon as possible to overcome regulatory barriers and maintain international competitiveness. He pointed out that since Trump was elected as the US president, the average daily trading volume of the Korean crypto market has exceeded the domestic stock market's 20 trillion won (about 14 billion US dollars).
At the recent World Exchange Market (WFE) Summit, Chung Eun-bo stressed that ignoring the virtual currency market will affect the profitability of exchanges. He also criticized the current attitude of viewing virtual currencies as speculative assets, warning that this could cause South Korea to lag behind in international competition. Although the crypto market is growing rapidly in South Korea, no crypto companies are currently listed on KRX, companies cannot purchase cryptocurrencies on their balance sheets, and regulators have not yet approved the launch of a Bitcoin spot ETF. He called on South Korea to seize the opportunity to institutionalize the cryptocurrency market to create new value and improve international competitiveness.
