Only 2% Interest in South Korea Crypto-Investment Reveale
KB Financial Group, a company in South Korea, has published a new report on the 6th of August and revealed that a large majority of those involved had almost no interest of investing in cryptocurrencies.
KB Group operates out of Seoul in South Korea and is heavily dedicated to providing several financial and banking solutions and services. 600 residents within the country in possession of more than $447K were part of the study and those with close to a $1M possession in assets, accounting for about 400 participants were also involved.
As part of the most recent report, almost 75% of national respondents involved displayed no signs of interest when it came to investing in crypto. 23% did show interest, although this would depend on the situation at the time, and just two percent of total showed interest in investing in cryptocurrencies at a later date.
Reported by a local news outlet, internationally, the situation is displaying upward results and a generally positive shift in dynamic. KBFG has revealed that almost 30% of international holders and over 50% of Asian holders displayed positive signs towards investments involving digital currencies, however, this does not include Japan. South Korea has been swinging back and forth in its connection to crypto following the immense hype on a global scale and has completely forbidden any form of trading anonymously and any government officials have also been banned from trading.
Additionally, the nation did classify Bitcoin as legal tender and ICOs are no longer banned in South Korea. Last month, the BoK published a paper stating that cryptocurrencies provide no risks to the current and local community and highlighting the fact that the number of investments is not yet significant enough to be deemed a threat in any way.