South Korea crypto holdings halve in a year as investors turn to stock market

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Top Korean exchanges by volume. Source: CoinGecko Industry body DAXA has pushed back, arguing the rule is disproportionate and could drive users to offshore platforms like Binance. The industry body said the proposal could increase suspicious transaction reports from South Korea’s five largest exchanges by 85 times, to over 5.4 million from about 63,000 cases last year, making compliance difficult in practice. Debate over the government’s planned 22% crypto tax, set for 2027, is also intensifying. On Thursday, South Korea's Finance Ministry confirmed for the first time that a 22% tax on crypto gains will take effect as scheduled on Jan. 1, 2027. Related: Bithumb wins temporary court stay on South Korea suspension: Report As Cointelegraph reported, Samsung SDS has won a contract to build and operate a blockchain-based securities platform for South Korea’s Korea Securities Depository (KSD), with the project expected to be completed by February 2027. The move comes ahead of South Korea’s broader push to build market infrastructure for tokenized assets ahead of a new legal framework taking effect in early 2027. Magazine: AI-driven hacks could kill DeFi — unless projects act now More on the subject

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