Seoul moves on from Do Kwon, Asia’s retail crypto capital.

This text discusses Seoul, the capital city of South Korea, as a global crypto hub. Seoul has a strong regulatory structure and is considered easy to do business in, with a strong digital infrastructure. The government has a significant influence in these areas. Seoul is also in the top 15% globally for crypto adoption due to its grassroots embrace of crypto. However, Seoul scored low in opportunities for per-capita crypto jobs, companies, and events. Sparse postings on sites like Linkedin, Eventbrite, and Meetup.com could be due to cultural or language barriers.

The Korean retail market is known for its power to move global markets, as seen with XRP’s soaring earlier this year. Korean retail traders push up other coins as well, and the Korean won is consistently one of the top three national currencies traded against Bitcoin. Nearly 7 million Koreans are registered crypto users, which is around 14% of the population.

Seoul’s appeal as a crypto hub also stems from its fast-paced and entrepreneurial culture, along with its strong Internet connectivity and mobile-savvy population. However, regulatory situations in Korea may currently be seen as an obstacle to growth and development in the industry.

Despite this, the next bull run could give an extra push to this already vibrant market, and the crypto craze during a bull market is exciting anywhere in the world, with Seoul turning it up a few notches.

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