2024.12.31
Bitcoin Breaks Records, But South Korea Struggles to Keep Up
In 2024, Bitcoin reached the milestone of $100,000, driven by the U.S. SEC’s approval of a Bitcoin spot ETF and Donald Trump’s presidential victory, which spurred a 61.6% price surge. In contrast, South Korea’s crypto market saw heightened regulation with the implementation of the VAUPA in July, intensifying market concentration as Upbit captured 78% market share. Industry leaders criticized the regulatory focus on user protection, arguing it stifles innovation and competition, while experts called for a more nuanced framework to accommodate diverse digital assets like security tokens and stablecoins.
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