FameEX Hot Topics | More Than 30% of South Koreans Hold Investments in Crypto Assets

South Korea experienced a sharp rise in cryptocurrency adoption in November, reportedly influenced by Donald Trump’s victory in the U.S. presidential election. This surge highlights the growing interest in digital assets among South Korean investors.  

According to Yonhap News on Dec. 25, the number of crypto holders in South Korea increased by 610,000 in November. Data provided by Representative Lim Kwang-Hyun of the Democratic Party of Korea revealed that the total number of digital asset investors had reached 15.6 million by the end of the month. With a population of 51.7 million, over 30% of South Koreans now hold crypto assets, reflecting the country’s expanding crypto adoption.  

This growth coincided with the introduction of the Virtual Asset User Protection Act, implemented on July 19 by South Korea’s Financial Services Commission (FSC). The law mandates that virtual asset service providers prioritize safeguarding users’ crypto holdings. Yonhap noted that the data was released under the new regulatory framework, marking the first official statistics on crypto ownership in the country.  

In addition to the growing user base, South Koreans were reported to hold approximately 102.6 trillion Korean won ($70.3 billion) in crypto assets. The report suggested that cryptocurrency trading volume in the country is already posing competition to the local stock market, further emphasizing the increasing role of digital assets in South Korea’s financial ecosystem.  

Yonhap attributed the surge in crypto adoption partially to Trump’s victory in the U.S. presidential election on Nov. 5. Analysts believe Trump’s support for cryptocurrencies could reverse anti-Bitcoin policies in the U.S. and lead to more favorable regulations. This optimism appears to have influenced South Korean investors, who may anticipate similar regulatory developments that favor crypto growth in the near future.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.