South Korea’s cryptocurrency market has surpassed the combined trading volume of its major stock indices, KOSPI and KOSDAQ. The Financial Services Commission (FSC) chair, Kim Byoung-hwan, expresses concern about this growing trend and its potential economic impact. Notably, the country’s crypto market capitalization now exceeds 100 trillion won ($74.8 billion), with daily transaction volumes exceeding even the nation’s stock markets. This surge has led to heightened concerns over speculative trading as a report suggests crypto currently holds only 4% of the total market value. The Bank of Korea (BOK) report further highlights this, revealing that by December 2024, the combined value of digital assets held by major exchanges in South Korea was estimated at around 104.1 trillion won ($73 billion). The nation’s cryptocurrency market experienced a double in value from October-end’s $40.7 billion to $70 billion in November. This surge coincided with Donald Trump’s victory and the approval of spot crypto ETFs in countries like the US and Hong Kong. The European Union’s Markets in Crypto-Assets (MiCA) regulation has also played a role, boosting market capitalization. While trading activity jumped from $2.38 billion to $10.4 billion between December 2023 and 2024, reaching a staggering $12 billion daily volume in December, this surpassed the combined average daily trading volume of the two main stock markets, KOSPI and KOSDAQ, at only $10.7 billion.