In at the moment’s episode of The Crypto FOMO Video games: South Korea.
Here is what they have been cooking these days (and why it is 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 may step in to manage it.
This traces 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 yr.
The ETFs had 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 way of TradFi instruments – key for attracting greater traders and establishments.
3/ Stablecoins on the best way, 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 might give customers entry to an area, government-approved digital forex – the right entry level for brand new customers = broader adoption.
Btw, if you happen to’re not South Korean and browse 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 tip 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 might be felt all over the place.
Now you are within the know. However take into consideration your pals – they most likely don’t know. I’m wondering who might repair that… 😃🫵
Unfold the phrase and be the hero you recognize you’re!
