South Korea's Crypto Exchanges See High Registration, Low Trading Activity

South Korea's cryptocurrency exchanges have seen significant growth in foreign and corporate registrations, but active trading remains low.

According to a report from the Seoul Economic Daily, as of the end of last month, there were over 566,000 foreign accounts and nearly 6,600 corporate accounts registered across five major virtual asset exchanges.

However, only a small fraction of these accounts are actively used for trading. Among general corporate accounts, just 29 were active in the past month, with 22 belonging to Dunamu, the operator of Upbit, South Korea's largest cryptocurrency exchange.

The report highlights regulatory uncertainties and complex verification processes as possible reasons for the low activity rate among foreign accounts.