Minho Leem, a digital asset analyst at Shinhan Investment Corp., said that after South Korean President Yin Xiyue issued a brief martial law order, the Korean cryptocurrency market fluctuated, which may prompt people to call for regulatory reforms. In the long run, this event exposed the vulnerability of the cryptocurrency market in responding to special situations in South Korea. South Korea accounts for nearly 11% of the global cryptocurrency trading volume, and its closed structure still raises concerns. The South Korean government may explore methods to ensure the liquidity of exchanges and improve transparency through real-time abnormal transaction monitoring systems.
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Fallout from South Korea’s Martial Law Could Spark Calls for Crypto Market Reform
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