Crypto cryptocurrency Korea adoption South Korea to launch a separate market for digital securities in 2022
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The need for a separate market for digital securities arose from the fact that the country's current capital market and electronic securities systems don't include any legal definitions for non-standardized securities issued on the blockchain. Due to this, the FSC determined that separate guidelines were needed to "support the sound development of the market and industry."
To help protect investors, tokens are to be distributed in the same manner as existing securities, and over-the-counter transactions will only be allowed on a limited scale in the early stages of the market. While the new crypto developments have the full support of South Korea's new government, the Korea Institute of Finance has warned that the growing crypto scene could one day threaten the country's financial well-being due to the industry's increasing ties to traditional finance.
According to a report released by the country's Financial Intelligence Unit , Korea's crypto market saw an average daily trading volume of 11.3 trillion Korean won in 2021 as compared to an average daily trading volume of 15.4 trillion won at the KOSPI, the country's main stock index.
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