The Rise of South Korea's Virtual Asset Industry

Cho Jin-seok, the CEO of CODA, predicted a substantial expansion in South Korea's virtual asset industry during the recent Bitcoin Seoul 2024 gathering. He highlighted 2024 as a crucial year, attributing the growth to Bitcoin's increasing influence and potential alterations in regulations.

While acknowledging the obstacles posed by stringent rules, Cho pointed out positive trends such as the rising popularity of Bitcoin spot ETFs globally and a more favorable political climate in the U.S. He expressed optimism regarding the forthcoming enactment of the Virtual Asset User Protection Act in July, anticipating a smoother and more investor-friendly environment.

Emphasizing the necessity of a reliable custody market for industry advancement, Cho outlined CODA's readiness to capitalize on this sector by prioritizing security, transparent processes, and compliance with regulations.

With plans to embrace the new regulations proactively, CODA intends to expand its offerings by introducing staking, OTC trading, and preparatory measures for potential ETF advancements, positioning itself as an early adopter of regulatory changes.