Summary: South Korean government must rethink about its current stance on crypto-coin market in South Korea, because boom in the crypto-coin market definitely lead to the wealth effect among retail investors, which can lead to consumer spending and boost S.Korea's GDP that South Korean policy makers desperately want.
Recently, massive upward price movement attracted South Korean investors/speculators' attentions to invest(?) in crypto-coin markets. Wide spread of success stories of speculation in coins pulled more new-comers and the coin market volume exploded massively in S.Korea. S.Korean government noticed this phenomenon and declared almost a war against this speculative frenzy.
But, is there any positive effect of the surge in coin market, especially for the economic policy makers?
In Japan, the wealth effect from the increasing Bitcoin price might have contributed "a potential boost to real GDP growth on an annualized quarter over quarter basis of up to about 0.3 percentage points" (Nomura)
If this happened in Japan, many country benefited from this wealth effect and South Korea is definitely one of those countries. (Assumption here is: Significant number of retail investors must have experienced increase in their coin-related assets)
So my final point is that the South Korean regulators must see the positive side of the recent coin boom in S.Korea, and consider this wealth effect when they design and implement the coin market regulation in S.Korea.