In as we speak’s episode of The Crypto FOMO Video games: South Korea.
Here is what they have been cooking currently (and why it’s best to care):
1/ Reducing charges
South Korea’s monetary watchdog (the FSC) is reportedly gonna examine how a lot native crypto exchanges are charging in transaction charges – and whether or not it is an excessive amount of.
If wanted, they could step in to manage it.
This strains up with what South Korea’s new president, Lee Jae-myung, promised: to scale back crypto buying and selling charges from 0.05% to 0.015%.
👉 And that is good as a result of: decrease charges = extra participation = extra liquidity.
2/ Spot ETFs on the best way
The FSC can be planning to permit native spot crypto ETFs within the second half of the 12 months.
The ETFs have been beforehand banned as a result of regulators thought-about crypto too dangerous. That appears to be altering, although.
👉 And that is good as a result of ETFs let individuals spend money on crypto via TradFi instruments – key for attracting larger traders and establishments.
3/ Stablecoins on the best way, too
That very same roadmap features a plan to carry the ban on Korean won-based stablecoins.
👉 And that is good as a result of it will give customers entry to a neighborhood, government-approved digital foreign money – the proper entry level for brand new customers = broader adoption.
Btw, in the event you’re not South Korean and skim this like “do not care, not my nation” 🙄 – DING DONG YOUR OPINION IS WRONG.
South Korea’s one of many largest crypto markets on the planet. By the top of 2024, individuals there have been holding over $75B in crypto.
And so, when their regulators make modifications like this, it is not simply native information – the influence may be felt in every single place.
Now you are within the know. However take into consideration your pals – they in all probability do not know. I ponder who might repair that… 😃🫵
Unfold the phrase and be the hero you recognize you might be!
