{"id":126127,"date":"2025-03-31T06:19:25","date_gmt":"2025-03-31T06:19:25","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126127"},"modified":"2025-03-31T06:19:25","modified_gmt":"2025-03-31T06:19:25","slug":"south-korean-crypto-exchange-users-hit-16m-in-saturation-point","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126127","title":{"rendered":"South Korean crypto exchange users hit 16M in \u2018saturation point\u2019"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsCrypto exchange users in South Korea have crossed over 16 million after receiving a boost following US President Donald Trump\u2019s election win last November.\u00a0<br \/>\nData submitted to representative Cha Gyu-geun of the minor opposition Rebuilding Korea Party found over 16 million people had crypto exchange accounts out of a total population of 51.7 million, according to a March 30 report from local news agency Yonhap.\u00a0<br \/>\nThis would be equivalent to over 30% of the population.\u00a0<br \/>\nAll the data was taken from the top five domestic virtual exchanges in South Korea: Upbit, Bithumb, Coinone, Korbit and Gopax. Individuals with multiple accounts were only counted once.<br \/>\nIndustry officials are reportedly speculating the number of crypto users could hit 20 million by the end of the year, with one unnamed official being cited by Yonhap saying:<br \/>\n\u201cSome believe the crypto market has reached a saturation point, but there is still an endless possibility for growth compared with the matured stock market.\u201d\u00a0<br \/>\nFollowing Trump\u2019s election win last November, the number of crypto users spiked by over 600,000 to 15.6 million, collectively holding 102.6 trillion South Korean won ($70.3 billion) in crypto assets.<br \/>\nInvestors in South Korea\u2019s crypto market had 102.6 trillion South Korean Won ($70.3 billion) in crypto assets as of last December. Source: Yonhap NewsThe number of crypto investors exceeded 14 million in March 2024, according to Yonhap.<br \/>\nMeanwhile, Korea\u2019s Securities Depository shows only 14.1 million listed individual investors in the stock market as of December last year, according to the South Korean financial publication the Maeil Business Newspaper.<br \/>\nRelated: South Korea inches closer to Bitcoin ETF decision, looks to Japan as example<br \/>\nSouth Korean public officials have also reported holding and investing in crypto.\u00a0<br \/>\nThe country\u2019s Ethics Commission for Government Officials disclosed on March 27 that 20% of surveyed public officials hold 14.4 billion won ($9.8 million) in crypto, representing 411 of the 2,047 officials subjected to the country\u2019s disclosure requirements to hold crypto assets.\u00a0<br \/>\nThe highest amount disclosed was 1.76 billion won ($1.2 million) belonging to Seoul City Councilor Kim Hye-young.\u00a0<br \/>\nMeanwhile, on March 26, the Financial Intelligence Unit of the South Korean Financial Services Commission published a list of 22 unregistered platforms and 17 that were blocked from the Google Play store.\u00a0<br \/>\nMagazine: Crypto fans are obsessed with longevity and biohacking: Here\u2019s why<a href=\"https:\/\/cointelegraph.com\/news\/south-korean-crypto-exchange-users-hit-16-million?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsCrypto exchange users in South Korea have crossed over 16 million after receiving a boost following US President Donald Trump\u2019s election win last November.\u00a0 Data submitted to representative&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126127"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126127"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126127\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126127"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}