Close Menu
Cryprovideos
    What's Hot

    'Rocktober': High Dealer Spots Main Bullish Sample Forward of Pivotal Month – U.At this time

    September 24, 2025

    Tether searching for as much as $20B in new funding spherical at a valuation of $500B

    September 24, 2025

    FTX Token (FTT) Checks Key Help at $0.83 as Technical Indicators Present Combined Alerts

    September 24, 2025
    Facebook X (Twitter) Instagram
    Cryprovideos
    • Home
    • Crypto News
    • Bitcoin
    • Altcoins
    • Markets
    Cryprovideos
    Home»Crypto News»South Korean FSC head nominee faces backlash after denouncing crypto
    South Korean FSC head nominee faces backlash after denouncing crypto
    Crypto News

    South Korean FSC head nominee faces backlash after denouncing crypto

    By Crypto EditorSeptember 2, 2025No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    South Korean FSC head nominee faces backlash after denouncing cryptoSouth Korean FSC head nominee faces backlash after denouncing crypto

    Lee Eok-won, the nominee to move South Korea’s Monetary Providers Fee, drew heavy criticism this week after dismissing crypto as missing any actual worth in his written testimony forward of affirmation hearings, native media reported on Sept. 1.

    Lee stated digital property don’t possess intrinsic value in the identical approach as equities or financial institution deposits, and argued that their worth swings undermine their means to behave as cash. He additional acknowledged that the intense volatility skilled by digital property makes them unsuitable as a retailer of worth or as a medium of change.

    Lee’s place is according to the federal government’s view that digital property are neither authorized tender nor monetary merchandise below the monetary regulatory regime.

    The FSC chair nominee warned in opposition to permitting retirement and pension funds to put money into the sector however expressed openness to regulating stablecoins, noting that they might be managed with safeguards whereas leaving room for innovation.

    Business pushback

    The nation’s blockchain sector rejected the remarks, with many within the business arguing that the assertion ignores the income and adoption being generated throughout the business.

    Since 2022, crypto adoption in South Korea has surged from about 9.7 million traders to greater than 16 million by early 2025, representing over 30% of the inhabitants and rising greater than 60% in simply over two years.

    Buying and selling exercise on native exchanges has at instances exceeded inventory market volumes, and complete holdings have climbed above 102 trillion KRW ($70 billion), highlighting how digital property have quickly turn out to be a mainstream funding selection for South Koreans.

    An analyst at Xangle, a neighborhood knowledge agency, accused Lee of counting on outdated arguments as soon as frequent amongst conventional finance leaders.

    NemoNemo

    He pointed to latest token buybacks and income streams from platforms like Hyperliquid, Tron, and Ethena as proof of worth creation similar to company inventory buybacks.

    Coverage warning vs. retail demand

    South Korean regulators have strengthened restrictions in latest months as retail curiosity continues to climb within the nation.

    The Monetary Supervisory Service suggested home asset managers to reduce holdings in crypto-related shares, whereas the FSC ordered exchanges to cease offering lending companies backed by digital property or fiat deposits.

    Regardless of the tighter stance, retail enthusiasm for crypto continues to climb. Buyers bought off a whole bunch of thousands and thousands of {dollars}’ value of Tesla inventory in August, the most important disposal since early final 12 months, whereas directing funds into crypto proxies like BitMINE, which not too long ago grew to become the largest Ethereum holder.

    Information additionally confirmed a steep decline in South Korean purchases of main U.S. tech shares in contrast with earlier this 12 months.

    The contrasting positions between regulators and traders depart open questions on how President Lee Jae-myung’s administration will stability warning with the general public’s rising urge for food for digital property.

    Talked about on this article
    Newest South Korea Tales



    Supply hyperlink

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    WisdomTree Registers Crypto Index Fund Monitoring High 20 Tokens

    September 24, 2025

    Why Main Enterprises Are Selecting Decentralized Community Over AWS – BeInCrypto

    September 24, 2025

    Pepenode Gamifies Mining With Actual Rewards: Subsequent Crypto To Explode

    September 24, 2025

    Crypto Market Prediction: Ethereum (ETH) Loses $4,000, Shiba Inu (SHIB): Hope for $0.00002 Not Misplaced, Dogecoin (DOGE) Hiding Bullish Card for $0.32 – U.As we speak

    September 24, 2025
    Latest Posts

    FTX Belief Information $1.15 Billion Lawsuit In opposition to Bitcoin Miner Genesis Digital

    September 24, 2025

    Solana Value Tightens Close to $200 Whereas Adoption and Treasuries Problem Bitcoin

    September 24, 2025

    Bitcoin's 'provide in loss' doubled as value dipped beneath $112k

    September 24, 2025

    Why Bitcoin Tanked After The Fed’s Large Fee Reduce

    September 24, 2025

    Bitcoin Worth may attain $3.4 million if Fed adopts yield curve management, Says Hayes

    September 24, 2025

    Bitcoin Consolidation Section: Why Chop Is A Regular Aftermath Of Excessive Volatility

    September 24, 2025

    Bitcoin turns into a macroeconomic asset as international locations race to ramp up adoption

    September 23, 2025

    OranjeBTC To Checklist On Brazil’s B3 Bringing Bitcoin To Markets

    September 23, 2025

    CryptoVideos.net is your premier destination for all things cryptocurrency. Our platform provides the latest updates in crypto news, expert price analysis, and valuable insights from top crypto influencers to keep you informed and ahead in the fast-paced world of digital assets. Whether you’re an experienced trader, investor, or just starting in the crypto space, our comprehensive collection of videos and articles covers trending topics, market forecasts, blockchain technology, and more. We aim to simplify complex market movements and provide a trustworthy, user-friendly resource for anyone looking to deepen their understanding of the crypto industry. Stay tuned to CryptoVideos.net to make informed decisions and keep up with emerging trends in the world of cryptocurrency.

    Top Insights

    250,000 Chainlink (LINK) at Threat of Promote-Off on Binance and OKX

    December 28, 2024

    President Trump’s Crypto Head Bo Hines Says White Home Ushering in ‘Golden Age for Digital Belongings’ – The Each day Hodl

    April 9, 2025

    SEC and Binance Request Second Pause on Lawsuit, Citing “Productive” Talks

    April 12, 2025

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    • Home
    • Privacy Policy
    • Contact us
    © 2025 CryptoVideos. Designed by MAXBIT.

    Type above and press Enter to search. Press Esc to cancel.