South Korean crypto market will grow to $45.9 billion by 2021 despite strict regulations

South Korea’s crypto market grew to 55 trillion won ($45.9 billion) by the end of 2021, according to a new study from the country’s financial regulator, the Financial Service Commission.

South Korea is considered one of the strictest crypto markets in terms of implementing regulatory policies and regularly made headlines in 2021 for its new travel rule and Know Your Customer requirements. However, the Korean crypto market has soared to new heights despite regulatory oversight in 2021.