Korean Crypto Exchange Profits Plummet Amid Regulatory Reforms
South Korea's crypto exchange sector saw significant losses in operating profits, plummeting 78% in the first half of 2026 compared to the previous six months. This decline is a stark contrast to the country's efforts to establish itself as a hub for digital assets.
The Financial Services Commission is considering introducing a formal market-making system for digital assets as part of the country's second-stage crypto legislation. This move aims to increase trading liquidity and stability in the market, but some experts caution that it may also lead to increased costs and complexity for market participants.
Meanwhile, MoonPay has expanded its operations into South Korea through a partnership with KakaoBank, Woori Bank, and KB Financial Group. The company's local subsidiary, MoonPay Korea, was officially launched on September 29, 2026, marking another significant development in the country's growing crypto landscape.