South Korea crypto holdings halve to 60.6 trillion won
Holdings fell to 60.6 trillion won by Feb. 28, 2026 as trading volumes plunged, investors moved into stocks and regulators plan AML flags for transfers over 10 million won and a 22% tax.
Bank of Korea data submitted to Rep. Cha Gyu-geun show the value of cryptocurrency held by South Korean investors fell from 121.8 trillion won at the end of January 2025 to 60.6 trillion won by Feb. 28, 2026.
Daily trading volumes across the country’s five largest exchanges-Upbit, Bithumb, Korbit, Coinone and Gopax-declined to about $3 billion in February 2026 from $11.6 billion in December 2024. Won deposits on exchanges, used as a proxy for investor buying power, dropped from 10.7 trillion won at the end of 2024 to 7.8 trillion won by February 2026.
Stablecoin holdings displayed a different pattern. They increased from about $60 million in July 2024 to a peak of $597 million in December 2024 before falling to $41 million in February 2026.
Regulatory changes scheduled for later in 2026 are expected to affect trading activity. Financial authorities plan to implement revised anti-money-laundering rules in August 2026 that would automatically flag cryptocurrency transfers above 10 million won when they involve overseas exchanges or private wallets. The industry group DAXA warned the 10 million won threshold could be disproportionate and could push users to offshore platforms, estimating that suspicious transaction reports could rise from roughly 63,000 last year to more than 5.4 million and create practical compliance challenges for exchanges.
Tax policy is also set to change. The Finance Ministry confirmed a 22% tax on crypto gains will take effect on Jan. 1, 2027.
Separately, Samsung SDS was awarded a contract to build and operate a blockchain-based securities platform for the Korea Securities Depository. The project is due for completion by February 2027 and is intended to support tokenized securities under a new legal framework scheduled to take effect in early 2027.
The central bank data and statements from industry participants show lower onshore exchange activity and reduced won liquidity on platforms alongside the regulatory and tax timetable. Regulators and market participants say the months ahead will shape how cryptocurrency trading and tokenized asset markets operate under the new rules and infrastructure.
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