Can a cryptocurrency boom in South Korea give a boost for a centralized digital currency?

Cryptocurrency is enjoying its second nationwide boom in South Korea since 2018. This March, users of the two largest cryptocurrency apps tripled to well over 2 million in just three months. Through cryptocurrency and stock market transactions, South Koreans – young and old – are actively seeking to secure steady streams of passive income.
Retail investors’ profits from the stock exchange, worth over 50 million won, will also be taxed starting in 2023.

This article was written by Hayoung Seo

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