Why are cryptocurrency regulations so strict in Korea? A thorough explanation including the reasons for popularity and the cryptocurrencies being purchased.
Alongside the rise of cryptocurrency in 2018, Japan was the country with the most trading activity, but neighboring Korea also experienced a very hot cryptocurrency boom.
In 2018, Korea had the largest trading volume in the world, and it is said that one third of the world’s trading was conducted in Korea.
In Korea, Bitcoin in particular was very popular, and its price tended to be set higher than in other countries.
This was called the "Kimchi Premium," a price setting unique to Korea.
However, in January 2018, because prices were set higher than those in other countries, the market capitalization of Korea was removed from global cryptocurrency prices.
As a reason for being removed, stricter regulations in Korea are often cited, but why were cryptocurrencies regulated in Korea? Let’s take a look.
【Table of contents for this article】
1: Why were cryptocurrencies regulated in Korea?
2: Do cryptocurrency regulations still continue in Korea today?
3: How do Korea’s cryptocurrency circumstances differ from Japan’s?
4: Why are cryptocurrencies popular in Korea?
5: Popular cryptocurrencies in Korea and the reasons
➜ Ripple (XRP)
➜ Bitcoin (BTC)
➜ EOS (EOS)
6: Summary
7: Related articles about Korea
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