Matrixport: New President Actively Promotes South Korea's Crypto Reform, Local Market Enthusiasm Yet to Be Fully Boosted

BlockBeats News, June 4th, Matrixport released a daily analysis stating, "The newly elected South Korean President, Lee Jae-myung, is actively promoting a series of cryptocurrency reform measures, clearly supporting the legalization of a spot Bitcoin ETF, the issuance of a stablecoin pegged to the Korean won, and relaxing restrictions for institutional investors to enter the crypto market. In addition, Lee Jae-myung also plans to revise the current regulations on exchanges and establish a 'Digital Asset Committee' to promote the formulation and implementation of policies such as the 'Digital Asset Basic Act.' These measures are aimed at following the global financial development trend, strengthening South Korea's financial sovereignty, and accelerating the integration of digital assets into the mainstream Korean economy. Despite the increasingly friendly regulatory environment, the local cryptocurrency trading activity in South Korea remains relatively subdued, and the President's reform commitments have not yet fully boosted market enthusiasm."

According to Matrixport's report chart, the daily trading volume of cryptocurrency in South Korea is currently still close to a historical low, showing a significant decrease since the beginning of the year.