South Korea’s crypto market grew to 55 trillion won ($45.9 billion) by the end of 2021, as per a new study from the country’s chief financial regulator, the Financial Service Commission.

South Korea has been ranked among the top crypto-markets in terms of their regulatory policies. It was featured regularly throughout 2021 because it implemented its Know Your Customer and Travel Rule requirements. The Korean crypto market is thriving despite being under regulatory scrutiny since 2021.