April 27, 2024

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[THE INVESTOR] Nearly 35 percent of Koreans oppose the government’s push to regulate cryptocurrency, a poll showed on Jan. 15, as the country is scrambling to rein in the frenzy.

According to a survey conducted by online job portal Incruit, 34.9 percent of respondents said the government’s move to regulate cryptocurrency is against the “flow of the high-tech industry.” The survey was conducted on 571 of registered Incruit users last week.

Twenty-one percent called for strong regulations to restrain the frenzy, and 42.3 percent said the cryptocurrency market will stabilize over time, according to the poll.

The survey showed that 61.5 percent of respondents had experience investing in virtual currency, and 9.5 percent said they have plans to trade in cryptocurrency despite the government’s push to regulate it.

Cyrptocurrencies, such as Bitcoin and Ethereum, have rapidly gained popularity in recent years among Korean investors hoping to make quick money.

Korea is home to one of the world’s biggest private bitcoin exchanges, with more than 2 million people estimated to own some of the best-known digital currency.

By Alex Lee and newswires (alexlee@heraldcorp.com)