Domestic Virtual Asset Investors Send 25.3 Trillion Won to Foreign Exchanges
CryptoNewsTerminal Staff18 May, 2024
Domestic Virtual Asset Investors Send 25.3 Trillion Won to Foreign Exchanges
Domestic virtual asset investors sent 25.3 trillion won to overseas exchanges in the second half of last year. This represents a significant portion of the 38.1 trillion won withdrawn from domestic exchanges during that period. Experts believe this trend is likely due to the increased popularity of overseas exchanges, which offer greater investment options and lower fees. The Financial Intelligence Unit (FIU) of the Financial Services Commission conducted a survey of virtual asset business operators and found that 67% of the funds withdrawn from domestic exchanges were sent to overseas exchanges. Individual wallets received only 4% of the total withdrawals. This trend is expected to continue as overseas exchanges become more popular and offer more investment options. Investors should be aware of the risks associated with investing in virtual assets and should only invest what they can afford to lose.
