South Korea has seen a significant rise in domestic investors owning virtual currencies over the last year. According to a recent survey, more than 9.6 million people now trade cryptocurrencies on local exchanges.Â
The increase of 52.6% over one year indicates a strong shift toward digital asset investment in the country. The study also shows that one in four investors is over 50 years old.
Rising Investor Numbers
This news emerges as investors build portfolios with more than 105 trillion won in total virtual currencies. The growth is driven by market trends, technological advances, and increased public interest in digital assets.
Data obtained from five major local exchanges, including Upbit, Bithumb, Coinone, Korbit, and Gopax, points to a rise in investor accounts. The total reached 9,667,023 accounts by the end of last year.
This figure represents a sharp increase of 3,333,439 new accounts over the previous year. Such numbers clearly show that more people are exploring virtual currencies.
The increase in account numbers highlights a strong interest in blockchain technology among regular citizens. The growth signals a new era of digital investment that is hard to ignore.
Older Demographics Gain Ground
Investors in their 50s and 60s are now a growing force in the crypto market. Data reveals that investors in their 50s increased by 56.4% and now total 1.75 million. Investors over 60 also saw a jump from 371,800 to 636,700, a 52.6% increase.
Among big investors who hold more than one billion won in cryptocurrencies, nearly one in two is over 50 years old. On average, these older big investors hold assets worth approximately 2.15 billion won. The involvement of older generations reflects a broader acceptance of digital assets across age groups.
Also Read: South Korea’s FIU Launches Stricter Measures Against Crypto Fraud
The Need for Good Regulation
The rise in digital asset ownership calls for strong and clear regulation to protect all investors. More involvement in crypto requires strict measures to ensure the industry remains safe and fair.
Financial authorities in South Korea are taking steps to control illegal virtual asset exchanges. Their plan includes sanctioning overseas exchanges that do not report as virtual asset service providers.
This approach will help maintain transparency and reduce risky behaviour in the market. The regulators believe that better rules will shield investors from potential losses.
Crackdown on Illegal Platforms and Institutional Moves
South Korean financial watchdogs are working against illegal platforms that compromise market integrity. Authorities are targeting exchanges such as BitMEX, KuCoin, CoinW, Bitunix, and KCEX for failing to report properly. These moves show the government’s commitment to a secure crypto space for everyone.
At the same time, the financial watchdog plans to release comprehensive guidelines for institutional cryptocurrency investments.
The new guidelines are set to lift the de facto ban on institutional investment in the crypto market. They will provide a clear framework for public companies and professional investors alike. This move is expected to encourage more regulated investments and support market growth.
The surge in virtual currency investors in South Korea marks a significant shift in the financial landscape. Older investors now play a critical role in shaping the market and influencing trends.
The government is determined to secure the crypto industry with better regulations and clear guidelines. These measures aim to protect investors and ensure the industry remains vibrant and trustworthy.