South Korea’s Way to Bitcoin Adoption

Any operations with cryptocurrencies and other digital assets in SK were strictly regulated or outright banned by the government. However, recent elections changed the direction of the wind in the country, for many, in unforeseen ways. The country is known for its strict laws regulating any online activities and controlling citizens. While not to the degree of China, it is still a very tight nation in terms of governmental control over the internet.
The new president Yoon Suk-Yeol is a firm believer in the future of the virtual asset market. He is a strong proponent of a freer trading system where digital assets can be exchanged without any limitations. Deregulation of many cryptocurrencies is a very interesting proposition that immediately caught the attention of huge players in the financial domain of South Korea.
Recent news says that Samsung Securities and Mirae Asset Securities alongside several other big companies decided to create exchanges focused primarily on dealing with crypto assets. The arrival of such big entities to the party is a giant support chant heard across the globe. Corporations only started the process of founding their cryptocurrency departments. They filed the necessary documents and prepare the required infrastructure, but it will take quite some time.
People in SK do not believe that the country will adopt digital currencies. The national economy is strongly tied to fiat currencies. There is no sure way to nationwide adoption just yet even partial. However, it is still a very good opportunity for the whole crypto community to talk more about the possibilities of deregulation and mass adoption.
Samsung is a strong player in the crypto industry. It has invested just under $1 billion in various DeFi projects and several blockchain platforms. Among large Asian corporations, this one has the best reputation and a strong portfolio of different assets. If it is still invested so heavily in the world of crypto, we have a strong argument for a bright future.
South Korea will see a massive influx of various exchange services in the first half of 2023 when Samsung will roll out its new platform.
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