Sohn Byung-doo, CEO of Korea Exchange (KRX), said that digital assets should be adopted in South Korea.
Speaking at the 2021 Global ETP Conference, Byung-doo said that there is no big difference between the digital asset industry and the capital markets.
Byung-doo also underlined the increasing crypto volume, pointing to around 5 million crypto investors in South Korea.
While the CEO said that his country should find ways to embrace and explore this industry, he called for the necessary steps to be taken for the institutionalization of the asset class.
“It’s time for exchanges to compete directly with overseas exchanges”
South Korea announced earlier this week that it is delaying its crypto taxation law by one year. The taxation is scheduled to take effect from 1 January 2023.
