Crypto Exchange users in South Korea crossed more than 16 million after receiving a boost after the US President Donald Trump’s electoral victory last November.
The data submitted to the Cham Gyu-Geun representative of the minor of the reconstruction of the opposition of Korea found that more than 16 million people had crypto exchange accounts on a total population of 51.7 million, according to a report of March 30 of the local news agency Yonhap.
This would be equivalent to more than 30% of the population.
All data have been taken from the first five national virtual exchanges in South Korea: Upbit, Bithumb, Coinone, Korbit and Gopax. Individuals with several accounts were only counted once.
Industry officials would have speculated that the number of crypto users could reach 20 million by the end of the year, an unnamed official being cited by Yonhap saying:
“Some people think that the cryptography market has reached a saturation point, but there is always an infinite possibility of growth compared to the mature stock market.”
After victory in Trump elections last November, the number of cryptography users increased by more than 600,000 to 15.6 million, collectively holding 102.6 Billions in South Korean ($ 70.3 billion) in crypto.
Investors in the South Korea cryptography market had 102.6 Billions of South Korean Won ($ 70.3 billion) in crypto last December. Source: Yonhap News
The number of cryptographic investors exceeded 14 million in March 2024, according to Yonhap.
Meanwhile, Korean titles deposit shows only 14.1 million individual investors listed on the stock market in December of last year, according to the South Korean financial publication The Maeil Business Newspaper.
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South Korean officials also said they had held and invested in the crypto.
The country’s ethics committee for government officials revealed on March 27 that 20% of civil servants interviewed hold 14.4 billion wons ($ 9.8 million) in crypto, representing 411 of 2,047 managers subject to the country’s disclosure requirements to have cryptographic assets.
The highest amount revealed was 1.76 billion won (1.2 million dollars) belonging to the Seoul city councilor Kim Hye-Young.
Meanwhile, on March 26, the financial intelligence unit of the South Korean Financial Services Commission published a list of 22 unregistered platforms and 17 which were blocked on the Google Play Store.
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