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In at the moment’s episode of The Crypto FOMO Video games: South Korea.
This is what they have been cooking recently (and why you need to care):
1/ Reducing charges
South Korea’s monetary watchdog (the FSC) is reportedly gonna examine how a lot native crypto exchanges are charging in transaction charges – and whether or not it is an excessive amount of.
If wanted, they may step in to manage it.
This traces up with what South Korea’s new president, Lee Jae-myung, promised: to cut back crypto buying and selling charges from 0.05% to 0.015%.
👉 And that is good as a result of: decrease charges = extra participation = extra liquidity.
2/ Spot ETFs on the best way
The FSC can also be planning to permit native spot crypto ETFs within the second half of the 12 months.
The ETFs have been beforehand banned as a result of regulators thought-about crypto too dangerous. That appears to be altering, although.
👉 And that is good as a result of ETFs let individuals put money into crypto via TradFi instruments – key for attracting larger traders and establishments.
3/ Stablecoins on the best way, too
That very same roadmap features a plan to raise the ban on Korean won-based stablecoins.
👉 And that is good as a result of it will give customers entry to an area, government-approved digital forex – the proper entry level for brand spanking new customers = broader adoption.
Btw, when you’re not South Korean and browse this like “do not care, not my nation” 🙄 – DING DONG YOUR OPINION IS WRONG.
South Korea’s one of many greatest crypto markets on the planet. By the top of 2024, individuals there have been holding over $75B in crypto.
And so, when their regulators make adjustments like this, it is not simply native information – the affect will be felt in every single place.
Now you are within the know. However take into consideration your folks – they in all probability do not know. I ponder who might repair that… 😃🫵
Unfold the phrase and be the hero you realize you’re!
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