In at present’s episode of The Crypto FOMO Video games: South Korea.
This is what they have been cooking these days (and why you need 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 control it.
This strains up with what South Korea’s new president, Lee Jae-myung, promised: to cut 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 way in which
The FSC can also 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 of crypto too dangerous. That appears to be altering, although.
👉 And that is good as a result of ETFs let individuals spend money on crypto by TradFi instruments – key for attracting larger buyers and establishments.
3/ Stablecoins on the way in which, too
That very same roadmap features a plan to elevate the ban on Korean won-based stablecoins.
👉 And that is good as a result of it could give customers entry to an area, government-approved digital foreign money – the proper entry level for brand spanking new customers = broader adoption.
Btw, in case 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 greatest 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 isn’t simply native information – the influence will be felt in every single place.
Now you are within the know. However take into consideration your pals – they most likely do not know. I’m wondering who may repair that… 😃🫵
Unfold the phrase and be the hero you might be!
