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Despite regulatory headwinds, P2P crypto trading surges in South Korea
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Despite fears of another regulatory crackdown, South Korea’s digital asset market has been growing well, and peer-to-peer Bitcoin trading is still surging, hitting all-time highs over November.
According to the data from LocalBitcoins, over 353 million in Korean Won was traded in the first week of November.
Source: coin.dance
This was a massive hike from previous weekly volumes. That said, the timing of this surge is indeed a unique one, especially after considering the regulatory scenarios in this region. It’s been nothing short of ambiguity and confusion in the nation.
The South Korean government has been putting down severe laws to combat illicit activities via cryptocurrencies. Talking about confusion, crypto tax laws here lead the chart.
Read more on ambcrypto.comAbout this in other media
Korean crypto investment firm Hashed reportedly under tax investigation cointelegraph.com /2 years ago
Crypto Fans Build Up Their Power as S Korean Politicians Delay Crypto Tax cryptonews.com /2 years ago
‘Time Has Come to Embrace Crypto,’ Says South Korea Stock Exchange Chief cryptonews.com /2 years ago
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