South Korea has seen a remarkable increase in crypto investors, with figures soaring to 15.6 million users as of November. This uptick, representing over 30% of the population, coincided with Donald Trump’s victory in the U.S. presidential election, sparking optimism for favorable crypto regulations. The data, revealing a collective holding of about 102.6 trillion Korean won ($70.3 billion) in digital assets, was reported by Yonhap News and marks the first official crypto statistics released under new financial safeguards.

July 19 marked a pivotal moment for cryptocurrency in South Korea as the Virtual Asset User Protection Act took effect, mandating enhanced security measures for digital asset service providers. This legislative move by the Financial Services Commission is intended to safeguard investor holdings, further boosting the crypto market’s credibility.

Observers attribute the spike in crypto participation to Trump’s election, anticipating a shift towards more crypto-friendly policies in the U.S., which could influence global market trends. The growing transaction volume in South Korea is now poised to rival that of the local stock market, reflecting heightened investor enthusiasm and confidence in the sector.

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