- The migration of cryptocurrencies in Korea increased by 2.3 times in 2024 compared to 2023.
- The mysterious organizational rules in Korea weaken its competitiveness in the field of encrypted currencies and the web3 network.
From being a specialized industry limited to technology lovers to become a trillion -dollar industry with widespread dependence around the world, the cryptocurrency industry has seen tremendous growth over the years. Despite the increasing dependence on encrypted currencies, the countries of the world have yet to form clear organizational policies for this industry.
South Korea is one of those countries that lacks the organization of cryptocurrencies but has gained popularity as one of the largest cryptocurrencies in the world. According to the latest Research report According to Tiger Research, talent, capital and companies are increasing to the cryptocurrency industry in South Korea.
Most countries around the world are witnessing the transfer of cryptocurrencies abroad due to strict regulations. China, India, South Korea and the United Kingdom are among the main countries on this list, as they face the migration of cryptocurrencies and investors to other countries.
The cryptocurrency market in South Korea is growing at a faster pace, as it records huge trading sizes, as there are about 15.6 million investors in cryptocurrencies in the country. However, local central stock exchanges are transmitted to other countries due to mysterious regulations. According to the VASP survey conducted by the Financial Services Committee in 2024, more than 2.3 times of money was transferred to non -local VASP portfolios in 2024 compared to 2023.
The mysterious encrypted currency organization weakens the ecosystem in South Korea
In addition to encrypted currency boxes, Korean web3 companies also transport their headquarters to friendly countries friendly. The transfer of many countries to Abu Dhabi and Dubai is concerned about South Korea, as the country loses innovation and the development of cryptocurrencies.
While the Korean web3 companies move to other countries, the talent of encrypted currencies does not waste any time to search for better opportunities in other countries. Talent migration can weaken the web3 industry strongly in the country, making South Korea backward from other countries that have clear regulations for encrypted currencies.
Although South Korea has developed an organizational framework for encrypted currencies, it lacks clear guidelines for sub -sectors such as stable currencies, decentralized financing, web3 games, etc. With the friendly encryption policies shown in the last executive order the encrypted currencies signed by the President of the United States, this expands more, which encourages encrypted currency companies and talents to immigrate to the United States.
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