More than half of the citizens said they will invest more in cryptocurrencies in the future.
According to a digital asset perception survey conducted by the Korea Chamber of Commerce and Industry targeting 2,259 people nationwide, 57.9% of all respondents answered that they plan to increase investment in digital assets such as cryptocurrencies in the future. 27.6% said they would maintain their current investment level, while 14.5% said they would reduce it.
Behind this investment expansion is a large expectation for institutional improvements. 28.6% of respondents cited 'legal and institutional improvement prospects' as the main reason for expanding investment. Following this were 'pro-cryptocurrency policies in the US' (22.6%) and 'domestic tax exemption status' (20.4%).
There are also many positive views of the cryptocurrency market. 78.2% answered that the digital asset market will help economic development. In particular, there were high expectations for effects such as nurturing new industries centered on blockchain, job creation, financial innovation, and alleviating asset market concentration.
Although there are risk factors and some negative perceptions, the overall opinion that regulations should be relaxed was predominant at 58.4%. The main reason mentioned was 'expanding capital inflow and investment accessibility' (52.9%).
Key policy tasks to develop the digital asset market were also presented. Survey respondents raised the need for 'enacting a digital asset basic law' (26.3%), 'introducing a virtual asset spot ETF' (20.9%), 'introducing a stablecoin regulatory framework' (15.6%), and 'legislating Token securities' (13.6%). Allowing cryptocurrency investment for companies and institutions and clarifying the currently deferred tax system followed.
Lee Jung-doo, a senior researcher at the Korea Financial Research Institute, emphasized, "The currently implemented 'Virtual Asset User Protection Act' is mainly focused on business regulation" and "There is a need to enact a basic law that more broadly encompasses various digital asset industries."
Kang Seok-gu, head of the survey division at the Korea Chamber of Commerce and Industry, said, "Digital assets have a high possibility of becoming future investment and trading means, and major countries are working on regulatory improvements" and "Korea also needs to establish an institutional foundation to respond to economic growth and financial changes."
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