Number of South Korean crypto investors drops 7%, holdings fall 38%

The growth in cryptocurrency investment in South Korea has been slowing since the second half of last year, Maeil Business Newspaper reported. According to data submitted by the country's top five virtual asset exchanges to Democratic Party lawmaker Ahn Do-geol, the number of crypto investors stood at 10.22 million as of February, a 7% decrease from six months earlier. The total value of their holdings also fell by 37.5% over the same period to 69.9 trillion won ($51.02 billion). Ahn stressed that discussions on establishing institutional frameworks, such as a basic act on digital assets, should no longer be delayed to ensure investor protection and market stability.