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A Tiger Research analysis found 73.1% of South Korean crypto investors may scale back use of domestic exchanges if cryptocurrency taxation takes effect next year.
Based on a recent survey of 2,423 South Korean virtual asset investors, 73.1% of respondents said they could reduce their use of South Korean virtual asset exchanges after the tax begins, according to Tiger Research. Even among 866 respondents who had only ever used domestic exchanges, 65.4% said they might move to overseas exchanges or personal wallets once taxation starts. Based on the survey results, Tiger Research projected trading volume at the three major South Korean exchanges, Upbit, Bithumb and Coinone, will total 601.9 trillion won next year, down 30% from 859.8 trillion won this year.