The South Korean Stock Exchange (KRX) is coming up with ways to incorporate cryptocurrencies within the stock exchange. According to the KRX chief Sohn Byung-du, digital assets, in principle, are not much different from capital assets. Under such a situation, it would not be much of a challenge to incorporate cryptocurrencies within the traditional stock exchange setup. In the past, the KRX took a different approach and said that it would be watchful of crypto assets in the country. However, now it seems that KRX is ready to reap the benefits of crypto trading and investment. Considering the size and scale of the Korean cryptocurrency landscape, there is huge money to be made in the sector. It seems that the Korean securities and exchange is trying to capitalize on this booming sector.
Around the same time, the Korean government gave in to pressure from the local cryptocurrency community and pushed back new taxation rules. On a whole, the crypto landscape of South Korea is suddenly looking more promising. Until a few weeks back, the situation was more or less a mess with unclear regulations and widespread confusion.
According to multiple surveys, the super-rich of Korea still does not invest substantially in cryptocurrency. A large section does not invest in digital currencies at all. The recent move from the KRX might bring a change to it. With crypto under regulation and supervision, more people will be comfortable investing in digital assets.
