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Crypto exchange users in South Korea have crossed over 16 million after receiving a boost following US President Donald Trump\u2019s election win last November.\u00a0<\/p>\n
Data submitted to representative Cha Gyu-geun of the minor opposition Rebuilding Korea Party found over 16 million people had crypto exchange accounts<\/a> out of a total population of 51.7 million, according<\/a> to a March 30 report from local news agency Yonhap.\u00a0<\/p>\n This would be equivalent to over 30% of the population.\u00a0<\/p>\n All the data was taken from the top five domestic virtual exchanges in South Korea: Upbit, Bithumb, Coinone, Korbit and Gopax. Individuals with multiple accounts were only counted once.<\/p>\n Industry officials are reportedly speculating the number of crypto users could hit 20 million by the end of the year, with one unnamed official being cited by Yonhap saying: <\/p>\n \u201cSome believe the crypto market has reached a saturation point, but there is still an endless possibility for growth compared with the matured stock market.\u201d\u00a0<\/p><\/blockquote>\n Following Trump\u2019s election win last November, the number of crypto users spiked by over 600,000 to 15.6 million<\/a>, collectively holding 102.6 trillion South Korean won ($70.3 billion) in crypto assets.<\/p>\n Investors in South Korea\u2019s crypto market had 102.6 trillion South Korean Won ($70.3 billion) in crypto assets as of last December. Source: <\/em>Yonhap News<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n The number of crypto investors exceeded 14 million in March 2024, according to Yonhap.<\/p>\n Meanwhile, Korea\u2019s Securities Depository shows only 14.1 million listed individual investors in the stock market as of December last year, according<\/a> to the South Korean financial publication the Maeil Business Newspaper. <\/p>\n Related: <\/strong><\/em>South Korea inches closer to Bitcoin ETF decision, looks to Japan as example<\/strong><\/em><\/a><\/p>\n South Korean public officials have also reported holding and investing in crypto.\u00a0<\/p>\n The country\u2019s Ethics Commission for Government Officials disclosed on March 27 that 20% of surveyed public officials<\/a> hold 14.4 billion won ($9.8 million) in crypto, representing 411 of the 2,047 officials subjected to the country\u2019s disclosure requirements to hold crypto assets<\/a>.\u00a0<\/p>\n The highest amount disclosed was 1.76 billion won ($1.2 million) belonging to Seoul City Councilor Kim Hye-young.\u00a0<\/p>\n Meanwhile, on March 26, the Financial Intelligence Unit of the South Korean Financial Services Commission published a list of 22 unregistered platforms and 17 that were blocked<\/a> from the Google Play store.\u00a0<\/p>\n