Boston Consulting Group (BCG), one of many Big Three international administration consulting companies, says the South Korean crypto market shall be value round 1,000 trillion gained (about US$835 billion) in 2026, whereas calling for a model new regulatory framework.
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- The quantity comes from BCG Korea’s Future of Asset 2022 report, which mentioned South Korea’s crypto market will see a median annual progress of 20%.
- The report expects the crypto trade to create 40,000 new jobs and a manufacturing worth of 5 trillion gained (about US$4.1 billion) in 2026, on account of the expansion.
- The BCG report says the maturity of Korea’s digital asset trade falls three to 5 years behind that of the world, significantly by way of improvement in crypto exchanges, stablecoin issuance, derivatives, custody and fee providers.
- It mentioned that totally different opinions and ranges of understanding hindered a transparent outlook on the trade, regardless of an energetic discourse throughout the society.
- BCG says it’s crucial for the federal government to set a brand new regulatory framework that’s extra centered on selling the trade — whereas mentioning that the U.S., Japan, Singapore and Switzerland have constructed regulatory frameworks for crypto preemptively.
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