• February 27, 2024

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FSC: Crypto Market Rises to $45.9B in South Korea

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According to a study carried out by the Financial Services Commission (FSC) of South Korea, in 2021, the country’s crypto market has increased to 55 trillion won ($45.9 billion).

The regulator has said that in the coming years investment in digital assets will continue to grow. In addition, the activity of investors will intensify even against the background of tightening policy by the supervisory authorities.

The Financial Services Commission (FSC) has analyzed transactions processed by 24 of the largest licensed crypto exchanges. This study showed the daily trading volume on Korea-based platforms reaches 11.3 trillion won, or $9.4 billion.

The profit of such companies was about 3.37 trillion won ($2.8 billion). At the same time, 9 crypto exchanges reported losses in 2021. More than 90% of transactions were made by users of platforms such as Korbit, Bithumb, Upbit and Coinone.