South Korea's crypto tax could cut domestic trading volume by 30%
- —73.1% of investors plan to cut activity on domestic exchanges after the tax
- —68.1% would shift to overseas exchanges, 64.2% to DEXs and P2P
- —Top-3 exchange volume seen falling from 859.8T to 601.9T won, down 258T won
- —Exchange revenue projected to drop 29.5%, from 1.03T to 728.2B won
Why it matters: The shift of volume offshore would hit Upbit, Bithumb and Coinone and could push Seoul to soften the tax regime.
Source: Bloomingbit
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