South Koreans flock to crypto amid a heavy-handed regulation approach

Cointelegraph

Published May 11, 2021 07:34AM ET

Updated May 11, 2021 02:40PM ET

In South Korea, one in three citizens either own cryptocurrencies or get paid in them. One-tenth of its population trades digital assets, and its youth unemployment rate hovers above 10%. It’s a competitive job market in the East-Asian nation, where high expenses enforce hierarchical social structures, and financial stability can seem like a pipe dream.

On matters of technology and innovation, South Korea is incredibly progressive. There’s been a lot of buzz around cryptocurrencies since news of their existence became common knowledge in the country.

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