- In South Korea there are now over 9.6 million crypto investors, almost 20% of the population; It was only 10%last year.
- One of four crypto investors is 50 years old or older, and many of them keep large crypto portfolios.
In addition, show Data Over five domestic crypto bonds-Upbit, Bithumb, Coinone, Korbit and Gopax-that the MP of the Democratic Party, Ahn do-Jae, receivedthat there were more than 9.6 million active and tradable accounts at the end of last year.
In the previous year it was only around 6.3 million. This means that in just one year there will be more than 3 million additional people who try their luck in the crypto world.
The total amount of the cryptocurrencies you have kept is impressive. Their value amounts to around $ 77.78 billion. For comparison: This corresponds to the purchase of more than 150,000 small apartments in Seoul. Not a number that should be taken lightly, especially when you consider that most owners are not institutions, but small investors.
Older generation consists of crypto fans
The age group, which was previously considered a technology, caught up. The number of investors over 50 is around 1.75 million, which corresponds to an increase of more than half compared to the previous year.
For over 60 years, the number rose from 371,800 to 636,700 people. It is possible that some of them will follow their children or grandchildren, in any case they make money.
Half of the South Korean crypto whales is over 50
Of the approximately 9,100 accounts with a fortune of more than 1 billion won – $ 682,000 is almost half in the possession of investors over 50.
On average, these mature investors keep crypto-assets for around $ 1.4 million. It is no wonder that more and more young people are asking their fathers or grandfathers to teach them their trade.
Fiu pulls the plug for foreign crypto platforms
In the midst of this quick growth, however, the South Korean government does not remain inactive. CNF reportedthe country’s Financial Intelligence Unit Fiu has started to act against foreign crypto exchanges that are not officially registered.
The regulation becomes more strict
The supervisory authorities are increasingly vigilant about the possible abuse of crypto platforms for crimes. Since January 19, for example, transactions that are suspected have been monitored with illegal foreign exchange trading.
Financial authorities, the Ministry of Justice and the Korean Central Bank cooperate. So if you think you can smuggle money over South Korean Wallets, you should think again.
CBDC pilot project begins with 100,000 private and commercial participants
South Korea is about to start a pilot project for a digital central bank currency (CBDC). How CNF reportedthe Korean central bank will begin in April. 100,000 participants, including several large banks, will be involved in the program.
The participants will later be able to convert their bank credit into digital tokens and use them for purchases at certain dealers. The payment process is also tested in real time.
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