In at present’s episode of The Crypto FOMO Video games: South Korea.

Here is what they have been cooking recently (and why it’s best to care):

South Korea cooking

1/ Reducing charges

South Korea’s monetary watchdog (the FSC) is reportedly gonna examine how a lot native crypto exchanges are charging in transaction charges – and whether or not it is an excessive amount of.

If wanted, they could step in to manage it.

This traces up with what South Korea’s new president, Lee Jae-myung, promised: to scale back crypto buying and selling charges from 0.05% to 0.015%.

👉 And that is good as a result of: decrease charges = extra participation = extra liquidity.

Joe from Friends nice meme

2/ Spot ETFs on the best way

The FSC can also be planning to permit native spot crypto ETFs within the second half of the yr.

The ETFs had been beforehand banned as a result of regulators thought of crypto too dangerous. That appears to be altering, although.

👉 And that is good as a result of ETFs let individuals put money into crypto via TradFi instruments – key for attracting greater traders and establishments.

3/ Stablecoins on the best way, too

That very same roadmap features a plan to elevate the ban on Korean won-based stablecoins.

👉 And that is good as a result of it will give customers entry to an area, government-approved digital forex – the proper entry level for brand spanking new customers = broader adoption.

Druski excited

Btw, if you happen to’re not South Korean and skim this like “don’t care, not my country” 🙄 – DING DONG YOUR OPINION IS WRONG.

South Korea’s one of many greatest crypto markets on the planet. By the top of 2024, individuals there have been holding over $75B in crypto.

And so, when their regulators make adjustments like this, it isn’t simply native information – the influence might be felt in every single place.

#South #Korea #cryptos #important #character


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