The South Korean cryptocurrency market is growing in importance. In Quarter 1 2024, the Korean won was the most actively traded currency for crypto assets in the world, surpassing the U.S. dollar. According to data from research firm Kaiko, in Quarter 1 2024, the Korean won's cumulative trading volume on centralized cryptocurrency exchanges was $456 billion, while the U.S. dollar trading volume was $445 billion. The growth in won-denominated trading is in part the culmination of an ongoing fee w...