2024.03.04
Statistics Korea Incorporates Cryptocurrency into Household Wealth Survey Amid Accuracy Concerns
Statistics Korea will now include cryptocurrency in its Household Financial Welfare Survey but may not publish the results immediately due to concerns over accuracy. The decision follows low response rates in pilot surveys. The discrepancy between respondents and actual crypto holders, mainly young men versus older women, contributed to under-reporting. Financial incentives failed to improve results. The agency aims to boost response rates by integrating crypto into the main survey but remains undecided on publication and the classification of virtual assets.
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