• Korean virtual asset industry to boom in 2024 
• Strict regulations to ease in July with new act 
• US regulatory changes to benefit crypto market 

South Korea’s virtual asset industry is poised for significant growth, said Cho Jin-seok, the CEO of CODA, at the recent Bitcoin Seoul 2024 event. Cho believes 2024 will be a pivotal year, fueled by factors like the strengthening of Bitcoin’s position and potential regulatory shifts.

While acknowledging the current challenges caused by strict regulations, Cho pointed to positive signals like the global trend towards Bitcoin spot ETFs and a more favorable U.S. political climate. He expressed hope that the implementation of the Virtual Asset User Protection Act in July will lead to a more streamlined and investor-friendly environment.

Cho emphasized the importance of a custody market for industry growth. He added that CODA is well-positioned to capitalize on this with its focus on security, transparent procedures, and regulatory compliance.

The company plans to be an early adopter of the new regulations, expanding its services with staking, OTC trading, and taking preemptive measures for potential ETF developments…

The post South Korea’s Crypto Market Set for Growth: Insights from Bitcoin Seoul 2024 appeared first on Coin Edition.

• Korean virtual asset industry to boom in 2024 
• Strict regulations to ease in July with new act 
• US regulatory changes to benefit crypto market 

South Korea’s virtual asset industry is poised for significant growth, said Cho Jin-seok, the CEO of CODA, at the recent Bitcoin Seoul 2024 event. Cho believes 2024 will be a pivotal year, fueled by factors like the strengthening of Bitcoin’s position and potential regulatory shifts.

While acknowledging the current challenges caused by strict regulations, Cho pointed to positive signals like the global trend towards Bitcoin spot ETFs and a more favorable U.S. political climate. He expressed hope that the implementation of the Virtual Asset User Protection Act in July will lead to a more streamlined and investor-friendly environment.

Cho emphasized the importance of a custody market for industry growth. He added that CODA is well-positioned to capitalize on this with its focus on security, transparent procedures, and regulatory compliance.

The company plans to be an early adopter of the new regulations, expanding its services with staking, OTC trading, and taking preemptive measures for potential ETF developments…

The post South Korea’s Crypto Market Set for Growth: Insights from Bitcoin Seoul 2024 appeared first on Coin Edition.