Report: South Korea to Push for Major Adoption of Cryptocurrencies

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South Korea will push for major cryptocurrency adoption, claims a new report, strengthening the spotlight on the tech hub which forms one of the most crypto-friendly countries in the world.  Also read: Korean Incoming Minister Confirms Crypto Taxation Plans South Korea’s Enthusiasm for Tech As one of the most innovative countries in the world, it’s no surprise the tech-savvy population of South Korea has been quick to take to cryptocurrencies and blockchain technology. In fact, the small country makes up around 30 percent of global cryptocurrency trading, despite having a population of little over 51 million. Now, a report by fintech company Cindicator has stated that the country is going to play an even bigger role in the adoption of cryptocurrencies in the future, partly due to its highly developed cryptocurrency exchange infrastructure and regulatory and taxation framework. The report claims: These projects and their eventual success are obviously a great indication of what crypto believers in the country feel the new technology could do in the future. The report states that it is because of exchanges such as Bithumb – the country’s largest – that South Korea ranks so highly worldwide in terms of the sheer volume of trading. As well as the country housing major exchanges such as Upbit, Korbit, and Coinone, it is home to a number of crypto and blockchain projects, which are a “great indication of what crypto believers in the country feel the new technology could do in the future.” The report notes the many occasions…
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