This is the biggest cryptocurrency exchange in Korea, this year, has experienced 182 x increases in virtual currency transactions this year. This figure was US $ 276.63 million in January 2016, and in November it was $ 51.91 billion. This business reports from Korea that this figure comes in 80% of more than $ 63.36 billion, this year the amount of average monthly transaction in Kosdaq.
These are 'concerns' that the sudden populations of investment in cryptocurrencies will encroach on Korea's stock exchange, including COSADAK.
Will Bathtub’s transactions be across Cossack?
According to this, according to Bithumb there has been an increase in one month on the basis of their monthly transaction month. In April this figure was 593.27 million US dollars. In May, it went to US $ 4.68 billion and in July it soon became 54.52 billion US dollars.
This cosine was down in a monthly transaction. It was 63.69 billion US dollars in April, and in May, it was US $ 50.91 billion, but in July it was 56.79 billion US dollars, in August that month the monthly transaction was again 54.53 billion US dollars.
On August 19, the daily trading volume at Bithumb was US $ 2.4 billion, and on the same day, Crossed Adjusted Daily Trading Volumes of $ 2.24 billion on KOSADAQ.
This Suk Tae Society General Securities Korea's senior economist said, "The fad of virtual currencies, including bitcoin, is one of the factors that adjust the Kosdaq market." It goes to comment on the nature of business of virtual virtual currencies and why small Korean investors do the business of Cryptocurrency as a short-term investment.
The economist said: With some market obstructions, Cryptocurrency Market mainly revolves around being a magnet for small investors from the Kosdaq market around retail investors.
This is a small entry barrier on the Cryptocurrency market and there is no need to analyze each item as a stock. Its digital currency market operates more by the individual investors than the Kosdaq market. More variability than this kosdaq is another attractive factor for small investors. '
This prominent researcher on KB securities, IM Song-Guk believes that many investors flock to the virtual currency market, which is a huge volatility compared to the stock market and allows 24-hour business. '
With the rise of Bithumb and Korean, among its top 15 global digital currency exchange sites, South Korea has become the world's third largest market in the business of Bitcoin after Japan and the US. This is the number of registered traders in the digital currency of more than 10 million in South Korea, and this exponential growth of Cryptocurrency is worrying about the South Korean government. This trend continues in the digital currency trading, depending on government policies.
Government intervention
It is a great debate whether the rules of the South Korean government on virtual currencies will be slowed down or the digital currency fad. To control its position, South Korea can start taxing on Cryptocurrency transactions.
This Cryptocurrency Trading only currently charges a commission. On October 13, the head of the National Tax Agency, Han Seung-ha announced that the government is implementing a value-added tax, a capital gain tax or trades. This South Korean government will make an official decision in the first quarter of 2018
source https://www.cryptocoinsnews.com/koreans-are-buying-cryptocurrency-over-stocks/