South Korea watchdog: crypto exchange operating profit fell 78% in H1
- —Exchange operating profit fell 78% to 81.6 billion won from 374.8 billion won
- —Average daily trading volume dropped 44% to 3.1 trillion won
- —Domestic crypto asset valuation fell 33% to 58.9 trillion won
- —KRW deposits declined 35% to 5.2 trillion won
Why it matters: The sharp drop in Korean exchange volumes and profits signals cooling local demand and could accelerate market consolidation.
Source: TokenPost
More on this
Regulation · Sep 23South Korea exchange net inflows drop 57% ahead of crypto tax
Regulation · Sep 15South Korea finds conflict between crypto exchange ownership cap and holding company law
Regulation · Sep 15South Korea's tax agency: off-exchange cash deals will remain outside crypto taxation