Policy Responses to Cryptocurrencies, Contrasting Approaches between South Korea and the United States

South Korea has failed to implement specific policies regarding cryptocurrencies since 2018, leading to uncertainty that could fuel anxiety in the cryptocurrency market. The repetition of statements and absence of policies in this context could be interpreted as South Korea’s inability to promptly and effectively address the cryptocurrency industry. In contrast, the policies of the Securities and Exchange Commission (SEC) in the United States hold significant global influence, indicating the country’s crucial role in the global cryptocurrency market. This situation underscores the leadership role of the United States in the global cryptocurrency industry, with other countries taking actions or being influenced accordingly.