Buy Crypto- Markets
Futures- Spot
- Copy Trade
- Earn
- More
Under Strict Regulations in Korea, Over $110 Billion in Crypto Assets Flows Out Overseas as Local Exchanges Struggle
BlockBeats News, January 2nd, according to a report jointly released on Friday by Coingecko and Tiger Research, due to local regulatory restrictions in South Korea, the scale of funds transferred by the country's investors from domestic cryptocurrency exchanges to overseas platforms exceeded 160 trillion Korean won (approximately $110 billion) last year. South Korea, as one of the most active digital asset markets in Asia, has a relatively lagging regulatory framework.
Last December, the much-anticipated "Digital Assets Basic Law" (DABA) was postponed due to regulatory agency disagreements on stablecoin issuance issues. This foundational law aimed at comprehensively regulating cryptocurrency trading and issuance has not yet been enacted. The "Virtual Asset User Protection Law," set to take effect in 2024, does not address market structural issues such as leverage trading or derivatives trading.
Regulatory gaps have raised concerns among market participants, who worry that South Korea's centralized cryptocurrency exchanges are increasingly struggling to compete with overseas platforms offering more sophisticated trading products. South Korean news agency Aju Press noted in a report in November: "The number of South Korean investors holding large accounts on overseas cryptocurrency exchanges has more than doubled in a year, reflecting both the global market's recovery and highlighting investors' growing dissatisfaction with South Korea's restrictive trading environment."
The research found that cryptocurrency has become a major investment asset in South Korea, with the number of investors reaching 10 million, and the revenue of exchanges such as Upbit and Bithumb reaching tens of trillions of Korean won. However, the report shows that despite South Korean investors actively trading cryptocurrency and increasingly turning to overseas platforms like Binance and Bybit, the growth of domestic exchanges has stagnated.
You may also like
Web3 Faces Significant Financial Losses in Q1 2026
Key Takeaways: Web3 projects endured a $464.5 million loss due to hacks and scams in Q1 2026. Phishing…
TechFlow Insights: Profits from Major ETH Long Positions
Key Takeaways: Long positions totaling 120,000 ETH have realized $40.054 million in profits. Two related Ethereum addresses still…
Binance Alpha Box Airdrop Campaign Launches Featuring ANOME, VELO, and POWER Projects
Key Takeaways: The Binance Alpha Box initiative kick-started with an upgraded model as of April 14, 2026, incorporating…
Bitget Wallet Unveils BGB Staking with a 5% Fixed Annual Yield
Key Takeaways: Bitget Wallet has launched its first fixed-term staking product for the new BGB, limited to 2…
UK Liberal Democrats Urge FCA to Probe Nigel Farage’s Stack BTC Conflict
Key Takeaways: Liberal Democrats seek FCA investigation into Nigel Farage’s connections with Stack BTC. Farage owns a 6.31%…
The Integration of AI and Blockchain Ushers in the Agent Economy
Key Takeaways: Dr. Feng Xiao, CEO of HashKey, announced during the 2026 World Internet Conference that AI and…
Bitcoin’s Four-Week High: Price Levels Set to Influence Market Volatility
Key Takeaways: Bitcoin’s price has risen above $74,000, reaching a four-week high. The $75,000 mark is identified as…
Believe Founder Faces Charges in New York Court for Alleged Involvement in Crypto Rug Pull Scam
Key Takeaways: Pasternak, founder of Solana ecosystem application Believe, faces legal charges for alleged participation in a cryptocurrency…
B.AI and KuCoin Web3 Wallet Forge Strategic Partnership
Key Takeaways: B.AI and KuCoin Web3 Wallet’s partnership aims to integrate AI with global liquidity. The collaboration leverages…
Anthropic Engages Trump-Associated Lobbying Firm Amid Defense Dispute
Key Takeaways: Anthropic PBC was marked as a supply-chain risk by the U.S. Department of Defense. Ballard Partners,…
Bitget Launches CFD Copy Trading with a $50 USDT Minimum
Key Takeaways: Bitget’s new CFD copy trading feature extends to forex, gold, crude oil, and stock indices. A…
Suspected Manipulation in Binance Life Token Surges Market
Key Takeaways: A suspected Binance Life market manipulator withdrew 87.85 million tokens worth approximately $14.93 million. This large-scale…
IRS Intensifies Cryptocurrency Tax Enforcement Ahead of 2025 Deadline
Key Takeaways: The IRS is focusing on cryptocurrency tax evasion with new rules effective in 2025. Form 1099-DA…
Renewing the Spirit: China’s Firm Stance on U.S. Tariff Threats
Key Takeaways: China denies supplying weapons to Iran, calling related reports fabricated and groundless. The U.S. threatens additional…
TechFlow APR: Navigating Web3 and Middle East Diplomacy
Key Takeaways: China emphasizes the fragile nature of the Middle East ceasefire and the critical need to maintain…
Upbit Expands by Listing ZAMA: A New Trading Opportunity
Key Takeaways: Upbit lists ZAMA trading pairs against KRW, BTC, and USDT. This strategic move highlights Upbit’s ongoing…
Venus Protocol Halts Isolated Pools While Ensuring Asset Security
Key Takeaways: Venus Protocol has paused all its isolated pools as of April 14, 2026. User funds are…
TechFlow: U.S. and Iranian Delegations Set to Engage in Talks in Pakistan
Key Takeaways: U.S. and Iranian officials are scheduled for discussions in Islamabad, Pakistan in the coming week. The…
Web3 Faces Significant Financial Losses in Q1 2026
Key Takeaways: Web3 projects endured a $464.5 million loss due to hacks and scams in Q1 2026. Phishing…
TechFlow Insights: Profits from Major ETH Long Positions
Key Takeaways: Long positions totaling 120,000 ETH have realized $40.054 million in profits. Two related Ethereum addresses still…
Binance Alpha Box Airdrop Campaign Launches Featuring ANOME, VELO, and POWER Projects
Key Takeaways: The Binance Alpha Box initiative kick-started with an upgraded model as of April 14, 2026, incorporating…
Bitget Wallet Unveils BGB Staking with a 5% Fixed Annual Yield
Key Takeaways: Bitget Wallet has launched its first fixed-term staking product for the new BGB, limited to 2…
UK Liberal Democrats Urge FCA to Probe Nigel Farage’s Stack BTC Conflict
Key Takeaways: Liberal Democrats seek FCA investigation into Nigel Farage’s connections with Stack BTC. Farage owns a 6.31%…
The Integration of AI and Blockchain Ushers in the Agent Economy
Key Takeaways: Dr. Feng Xiao, CEO of HashKey, announced during the 2026 World Internet Conference that AI and…
App