Crypto ownership surges in South Korea after Trump win
The country’s crypto assets are valued at $70.3 billion, with transaction volumes nearing those of the local stock market, highlighting the sector’s rapid growth.
South Korea has seen a significant rise in cryptocurrency holders, with over 610,000 new users recorded in November. According to data shared by Yonhap News, the country now has 15.6 million crypto investors, representing more than 30% of the population. The data, sourced from major exchanges like Upbit and Bithumb, highlights the growing influence of digital assets in South Korea’s financial landscape.
The surge coincided with Donald Trump’s win in the US presidential election on 5 November. Many in the global crypto community believe Trump’s victory could signal a shift towards more favourable regulations for digital currencies, a sentiment that has resonated strongly in South Korea.
Additionally, the introduction of the Virtual Asset User Protection Act by South Korea’s Financial Services Commission has enhanced investor confidence. Under the new regulations, crypto exchanges must prioritise the security of users’ assets. This is the first time such comprehensive statistical data on crypto ownership has been released, further underscoring the sector’s rapid growth.
With South Koreans holding $70.3 billion in crypto assets and transaction volumes nearing those of the local stock market, the country’s crypto boom shows no signs of slowing.
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